Closing Bell: Stocks volatile on CPI print, Former Fed official Quarles reacts, Under-the-radar chip play 2/14/23

The major averages had a volatile session as Wall Street tried to make sense of a hotter-than-expected inflation report. Former Fed Vice Chairman for Supervision Randal Quarles discusses the print and how it could impact the Fed’s rate strategy. KeyCorp CEO Chris Gorman also talks inflation and gives his view on the state of the consumer and the lending market. The CEO of under-the-radar chips play Cadence Design Systems breaks down his company’s quarter and the outlook for the sector. Plus why Palantir saw a huge pop, Zoetis’s CEO on the avian flu, and why Bank of America thinks Nvidia could be a big winner in the AI wars.