7/15/2024
By Charles Payne CEO & Principal Analyst

I begin this edition of ‘Payne’s Perspective’ with economic data, specifically the Consumer Price Index (CPI), which finally gave investors what they’ve been hoping for without presenting weird takes.

As it stands, Fed Jay Powell has offered his favorite read, which didn’t exist before—the so-called “Supercore.” That version of the CPI not only came in well below the consensus, but it was also negative for the second consecutive month. If it were not for the enormous pressure not to repeat Arthur Burns' mistake, the 10^th chairman of the Federal Reserve, I suspect the Fed would have made it clear that rate cuts are imminent.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies

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