| Editor's Note: Today's article comes from our friend Matt Benjamin of The Oxford Club. In it, he reviews inflation numbers from June and July, with a focus on one particular group of Americans who are being hit especially hard. As a Trade of the Day reader, you will want to read what Matt has to say below. -Ryan Fitzwater, Associate Publisher
Matt Benjamin, Senior Markets Expert, The Oxford Club June's inflation number was pretty scary. Consumer prices rose 9.1% in June year over year. That was a four-decade high and significantly higher than the 8.8% rise that economists expected. The consumer price index was also 8.5% in July - lower than June's figure but still far above the Fed's target level. And that higher-than-expected number is certainly concerning for investors... It will likely keep the stock market subdued for a little while longer - until investors see some light at the end of the rate-hiking tunnel. But there's one group of Americans for whom the inflation data will likely be even scarier... | 
No comments:
Post a Comment