Raphael: You've got to give these lags time, right? If they're supposed to take 12 to 18 months, it's only been a year or a year and a half of increases. Another reason to be wary building on what Mike was saying there is that the so-called base effects are going to start to get a lot less favorable going forward. We're right now at the peak of where we're comparing to June 2022 when inflation was at the high.
Bloomberg News International Economics & Policy Correspondent Michael McKee and Bloomberg News Economics Editor Molly Smith discuss today's CPI data and the Fed's next move. Bloomberg News Senior Finance Reporter Sri Natarajan explains why Goldman Sachs is breaking with its long-standing convention and have been actively downplaying expectations for earnings results that will be disclosed next week. Sean O’Hara, President at Pacer ETFs, talks about the companies that make Amazon Prime Prime Day possible. And we Drive to the Close with Tony Roth, CIO at Wilmington Trust.
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