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Tuesday’s core CPI print for February came in hotter than expected, yet the stock market wasn’t bothered. For much of 2023, the S&P 500 moved inversely to expected fed funds rates, with the index selling off while the Federal Reserve was expected to keep rates “higher for longer” early last fall, and then surging as the central bank pivoted toward cuts. But so far this year, the number of cuts has been cut back aggressively, and the stock market doesn’t mind.