Something important happened on the Consumer Price Index today and if you’re not following it, you’re a rookie. Don’t be a rookie. Listen to what the CPI is saying.
Consumer Price Index Is Saying Fed Should Not Raise Rates
A common theme that you will continue to hear me drive home is that the economy is too weak for the Federal Reserve to hike rates. Today, the CPI confirms that IMO.
The CPI missed. The CPI forecast was for no change at 0%, the actual number was -0.1%. That is a big miss for this indicator folks.
Don’t be that rookie that follows the Fed press conferences after rate hikes where Yellen says the economy is growing at a moderate pace and everything is fine. Everything is not fine and I think the CPI release today confirms that.
Maneco64 posted this video on YouTube today about the Consumer Price Index and I think he nails the analysis.