Scoreboard: Patient Fed

The Federal Reserve indicated it's in no hurry to raise rates, while a fall in US consumer prices fuelled a rally on Wall Street.

In US economic data, consumer prices fell 0.3 per cent in November -- marking the largest decline since December 2008. Annual growth eased from 1.7 per cent to 1.3 per cent. The fall in gasoline prices (down 6.6 per cent in November) was the biggest driver. Core CPI (ex food and energy) lifted up 0.1 per cent in November to be up 1.7 over the year. The US current account deficit rose from $98.42 billion to $100.36 billion in the September quarter.

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