More Good Inflation News
From Simon Rosenberg's substack this AM:
This morning we got more encouraging news on the inflation front - the monthly consumer price index rose 0.2% for June, or 2.4% on an annualized basis. Over the past 4 months, it has averaged a 2.1% increase annualized, and over the past 12 months it is now down to 3.0% annualized. This is all within the zone of what the Fed wants to see and means that further interest rate hikes are less likely now.