Welcome to the latest edition of Talking Data. Our Talking Data series seeks to offer timely insights into macro market themes along with macro data and its impact on the economy and markets.

I am your host Kristen Radosh of Arbor Research and Trading. Our commentator is Jim Bianco of Bianco Research.

Today Jim will share his thoughts on CPI and the Fed Meeting.

• CPI came in less than expected. What is the takeaway?

• The Fed held steady, will they cut rates this year?

• What about the neutral rate?

Thank you for joining us today. We are client driven, if you have any questions or feedback on future topics, please let us know.

For further information on Arbor Research, Bianco Research and Arbor Data Science, please contact Gus Handler at gus.handler@arborresearch.com.