George Seay, Founder And Chairman of Annandale Capital, takes a deeper look into the data.
Transcript:
Caroline Woods: All right. First I want to get your reaction to the latest inflation data. July CPI came in tamer than expected. Although core did come in slightly hot. The market seems to be taking it as good news. What do you make of it? Are you looking at it as glass half full as well.
George Seay: I am, I think that when the market’s priced for, for perfection, a lot of these obscure economic statistics that most people don’t pay a whole lot of attention to except for the professionals. Start really splitting hairs. And getting into granular analysis. And, you know, the result we got was not too far off what was expected, except for the core, as you mentioned. But I think it was just right for Wall Street. It it was the porridge that was just right. Not too hot, not too cold. Basically, you still have inflationary pressures to a small degree, but there’s no evidence that tariffs are really jacking up inflation yet, but it’s not so extreme that people worry about the Fed not cutting it in September. And for the rest of the year it shows a strong economy, shows a healthy economy but inflation not too hot. So the Fed can continue to cut. And the market loves that.
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