A useful investment strategy, copy what members of Congress are doing.

I'm David Brancatier. First inflation this morning came in lower than expected,

with the consumer price index falling a tenth of a percent April to June

meaning prices went up just 3% in the year through June.

The Federal Reserve had set out to hit or tap the brakes and that is happening Larry Adam is chief investment officer at

Raymond James welcome.

Thanks for having me David. I read that as lower than expected inflation. What do you see?

Yeah inflation is coming down and I think the good news is that's going to give the Fed the confidence and now the evidence

that they can likely start to cut interest rates in September. And if you look at the market

right now, the probability of a rate cut in September. If you look at the market right now, the probability of a

rate cut in September is now above 90 percent and now it's a solid two for

this year, which I think will be a good thing for the economy. We've been doing

some reporting on an important fact that's often

lost in this discussion of inflation that if you take a look at wages over the

last year those have actually gone up more than inflation. In other words, inflation is not

erasing our paychecks. Yes, real wage growth is continuing to move higher, but you

have to put that in the context that did job creation is actually

starting to slow now. And you saw last week that the unemployment rate now is above 4%,

it's up actually 0.7% from the lows of April of last year.

So I think that's kind of offsetting some of those real price wage gains

that people have been getting.

Good perspective from Larry Adam, chief investment officer at Raymond James,

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