Inflation concerns and market reactions

The podcast discusses the latest inflation data and its impact on the market. The guest, Jay Bryson from Wells Fargo, describes the CPI print as a 'damp squib' and explains that it is unlikely to change anyone's view on the economy or alter the Federal Reserve's stance. He notes that while the increase in PPI and CPI is a concern, it is largely due to the rise in goods inflation. Bryson also mentions that the ongoing geopolitical tensions in the Middle East could potentially impact gasoline prices, but emphasizes that it would need a sustained increase in prices to have a lasting effect on inflation. Overall, he believes that getting inflation back down to 2% will be challenging and may require sub-trend economic growth over the next few quarters.