CPI Impacts Two of The Three Pillars of The Rally
CPI impacts two of the three pillars of the rally: Tom Essaye Quoted in The Spokesman-Review
Wall Street takes risk off table before CPI report
CPI is key because if it halts its downward trend, markets will have to price in a more hawkish Fed. That would be a headwind on stocks, said Tom Essaye, who founded The Sevens Report newsletter.
“Put in a more familiar way, CPI impacts two of the three pillars of the rally: disinflation and expectation the Fed is done with rate hikes,” Essaye noted. “If CPI is too hot, both will be damaged.”
Also, click here to view the full Spokesman-Review article published on September 12th, 2023. However, to see Tom’s full comments on the current market environment sign up here.
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