CPI Runs Hot--Are We Headed For Stagflation?

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 14 October 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Oct 13,2021: September’s CPI report revealed that, as energy and food prices climbed, consumer prices rose 0.4%, pushing the year-over-year inflation to an uncomfortably hot 5.4%. Yield curves flattened after the CPI released with shorter-dated yields rising and longer-dated yields falling. Tech stocks are advancing while banks and energy stocks are faltering, including JP Morgan ($JPM) despite their Q3 earnings topping analyst estimates. Darius Dale, founder and CEO of 42 Macro, joins to discuss the rapidly rising probability of realizing stagflation in Q4. Interviewed by Jack Farley. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3ADpJna Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Real Vision Podcast Network.
0:12.0	Welcome to the Real Vision Daily Briefing.
0:14.0	It is Wednesday, October 13.
0:16.1	Today, I am joined by Darius Dale of 42 macro Darius.
0:19.9	Welcome to the Daily Briefing.
0:21.4	Yeah, Jack, what's up, man?
0:22.5	How you doing?
0:23.3	I'm doing well, lots to talk about today, Darius.
0:26.0	So as you know, we had the consumer price index come out this morning.
0:29.5	That measure of inflation and inflation runs stubbornly hot.
0:33.4	We had a 5.4% year-over-year increase in the consumer price index that's
0:39.0	slightly above the 5.3% that was expected by economists.
0:43.4	So I want to ask you, Darius, is inflation transitory?
0:47.2	Has it proven to be more transitory than people have expected?
0:50.5	Excuse me, less transitory?
0:52.2	Yeah, well, certainly less transitory than I think a lot of bad
0:55.7	economists have expected, but the reality is the transitory nature
0:58.8	inflation was never going to be defined in this period.
1:01.6	It's going to be defined over the ensuing 12 to 18 to 24 month period.
1:06.4	When you just updated our models, obviously, after the data was reported today,
1:09.4	and really no change on that front, you know, we're talking about an inflation rate
1:12.8	that's going to go from 5.4% headline to around about 3% headline a year from now.
	...

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