Macro Update: CPI Cools, Shelter Inflation Tanks & Fed DELAYS Cuts

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Published 2024-06-12

In this episode, Joe walks through an action-packed day in macro. The CPI print for last month came in cooler than analyst estimates, led by the shelter component which saw its first monthly decline in 3 years. Following the cool CPI data, rate expectations fell and risk assets popped, but Powell was quick to temper dovish hopes with his press conference in the afternoon. Though the Fed is content with the path of inflation, it is not satisfied with the level still being well above its 2% target. It remains flexible, with its eye on developments in the labor market, into the end of the year. Joe wraps by talking about how asset prices will behave heading into the end of the year.

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All Comments (6)

@tanpeng2884 2 months ago

Best macro video, better than blockwork, bankless, keep it up
@tonequin4562 2 months ago

Appreciate the daily alpha
@simonmaverick7018 2 months ago

Good video but there was no mention of the labor market mix where full time jobs are falling and part time jobs are rising which is hidden in the numbers. Liquidity is backing off at the moment so I’m expecting Bitcoin to retest the last previous low.
@WEF2030SLAVE 1 month ago

Good shit thank you
@Shinehead3 2 months ago

So Basically Unemployment in the US will rise and the interest payments, which now exceed the Budget for the US military, will also rise...Oops almost forgot...the Purchasing Power of our Debt Based Currency will continue to decrease over time.