More pessimistic than Wall Street. Everyone pricing more Fed cuts because CPI is down, but that's not so good.
Michael McKee
Fed doesn't look at CPI, uses PCE. PCE (yellow line) expected to be up 3% for December. Fed not going to cut rates when inflation is going up at their target number to 3%.
Could you see less angst for consumer? Food prices dropped, shelter inflation less, gasoline down. Signify pressure off White House?
Dani Burger
Michael McKee
If at White House, would highlight those consumer items. Issue is what happens next.