Asks about Fed rate decision considerations given Middle East war and moving parts.
Dom
Jose
Oil price shock needs assessment: one-time or lasting effect. Oil up 42% YoY, feeding into services/core PCE like airline fares. Middle East conflict must subside for Fed to cut in second half of year.
Questions if higher oil prices cause weird inflation easing effect in other market parts due to reduced spending capacity.
Dom
Jose
K-shaped consumer means lower-end has more difficulty maintaining expenditures. If crude oil prices stay high, it doesn't solve inflation problem, it bumps it up.