Kai Risdahl

As I am required to say by law, it is the Fed's favorite indicator of inflation.

Month on month, up four-tenths of 1% is a lot, right?

The annual number, which we'll get to in a minute with Dan Ackerman, was 3%, which is okay.

But monthly, the pace of increase does seem to be increasing.

I'm going to roll out a word here, and I want your 15-second reaction.

We have slowing economic growth and rising inflation.

Stagflation anywhere on your radar screen?

Fair enough.

You had a piece the other day we passed around in our production team Slack channel in which you said you're not all that worried about a recession right now because not enough bad things have happened.

Right.

Acknowledging that a recession is a systemic thing.

But I guess how much more bad do we need, you know?

Yeah, that sadly will have to be a conversation for another day because we got to go.

Catherine Ann Edwards, she's the host of the Optimist Economy podcast.

You ought to check it out.

Thanks for your time.

In stocks today, the relief rally continued, tenuous, though the ceasefire does appear to be.

Oil traders seem a bit more clear-eyed.

We'll have the details when we do the numbers.

The truth of it is, whatever the headlines are saying about a ceasefire or whether the Strait of Hormuz is opened or closed, spoiler alert, it's closed.