Peter Boockvar on this week's CPI report, the market's reaction, and whether the Fed will succeed
Real Vision Finance, Released on 6/10/22
The Bureau of Labor Statistics reported on Friday that the consumer price index increased 8.6% from a year ago and 1% from a month ago in May. Both readings exceeded expectations and re-centered for the Federal Reserve and the White House the problem of fixing 40-year-high inflation. According to Peter Boockvar, the CIO of Bleakley Advisory Group, "The odds of 50 basis points at the September meeting of the FOMC are back to 100%." Not coincidentally, the University of Michigan's consumer sentiment index plumbed an all-time low in May. Boockvar joins Real Vision's Andreas Steno Larsen to talk about today's CPI report, the market's reaction, and whether the Fed will be able to tame inflation and manage a "soft landing" for the economy at the same time.
Peter Boockvar is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report newsletter https://boockreport.com/.
Peter Boockvar on this week's CPI report, the market's reaction, and whether the Fed will succeed added by Herman James on 06/09/2022View all posts by Herman James ?+'