Neal Freiman
๐ค SpeakerAppearances Over Time
Podcast Appearances
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Yeah, just look at what analysts titled their reports after this report dropped.
Lost in translation, said TD Securities.
Delayed and patchy Swiss cheese CPI report.
And then another one said, borrowed your salt metaphor and said, take it with the entire salt shaker.
There's just a lot of gaps and a lot of skepticism toward this report.
A number of other analysts came out and said, you know what?
I don't take this at face value, but I also don't dismiss it entirely because if you take it on a whole, there's probably a good sense that inflation is slowing down in certain categories.
But this dramatic drop that we saw, we saw core CPI, which strips out gas and food, fall to its lowest level since 2021 at a 2.6% annual rate.
That just didn't feel totally believable.
That said, there was a growing sense that inflation is receding.
We just don't know
by how much.