U.S. Not as Resilient as Headlines Suggest, Says Ecri's Achuthan

The video discusses the weakening housing market, highlighting a downturn in the leading home price growth index, which is at its lowest since 2009. This decline impacts the economy as housing is a major household investment, influencing the wealth effect and retail sales. Despite positive economic factors like tax cuts and energy booms, the economy shows signs of easing, with inflation indicators at multi-month lows. The Federal Reserve's potential rate hikes are questioned, given the current economic conditions.

In what ways might the Fed's actions be influenced by the current economic indicators?

What is the significance of the current CPI levels mentioned in the text?