This week’s CQM updated only December CPI and import/export prices. Although energy CPI jumped 4.04% in December, the price deflator of PCE was revised upward a bit from 1.14% to 1.17% in 2020Q4. However, price deflator of nondurable goods PCE is expected to rise from -0.7% in 2020Q4 to 5.8% in 2021Q1 due to rising energy, food, and apparel prices. U.S. economic growth rate is expected to fall below 1.0% in 2020Q1 mainly due to the weak personal consumption expenditure. Therefore, a stimulative check of $2,000 is a good idea to prevent the economy from going to a recession.