Consumers are not spending as much, is it time to worry?

Chuck Zodda and Paul Lane review the Core PCE numbers released and wonder how the Fed will react to this news. Chevron posted a record $35.5 billion profit for the year 2022. Intel earnings report wildly underwhelmed. Japan and the Netherlands are joining the US in ensuring chip manufacturing isn't in the hands of China exclusively. China is producing passenger cars at an alarming rate.