Don’t be fooled… Inflation is NOT coming down
Wall Street Unplugged - What's Really Moving These Markets
Frank Curzio
4.5 • 1.1K Ratings
🗓️ 17 May 2023
⏱️ 32 minutes
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Summary
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| 0:00.0 | Wall Street Unplug looks beyond the regular headlines, heard on mainstream financial media |
| 0:06.9 | to bring you unscripted interviews and breaking commentary direct from Wall Street, right |
| 0:11.7 | to you on mainstream. |
| 0:12.7 | He's going up there, it's May 17th. |
| 0:16.9 | That Frank Curse, you're a civil stripper, so I bring the hell, let's end. |
| 0:29.6 | Say what's really moving these markets, so much going on, debt ceiling debates, possible |
| 0:39.0 | downgrade, U.S. credit, the fed, are they reason, are they cutting? |
| 0:44.6 | If you ask 100 people, 50, you're going to say one thing, 50, you're going to say the |
| 0:47.4 | other, you have no idea what's going on, economic data is all over the place, showing inflation |
| 0:54.8 | and showing signs of deflation, stagflation, be nice, just fall asleep, I'll wake up a |
| 1:03.4 | year later in the markets at the same price, but all the risks and all the craziness, but |
| 1:09.3 | I'm here to try to make sense of it for you, and I want to start with the fed, whether |
| 1:15.6 | they're raising or they're cutting, and we just saw another number come out, retail sales |
| 1:19.8 | grew 0.4% in April, grew, right, retail sales grew, used to getting a negative number |
| 1:26.1 | there, now it's growing again, but it was still slower than the 0.7% expected, it's retail |
| 1:31.4 | sales, right, this is the consumers. |
| 1:36.2 | What I found interesting in this report is if they strip out autos, just like they strip |
| 1:40.5 | out like corn, food and energy at a CPI, so they have retail sales, remember retail sales |
| 1:45.2 | grew 0.4% in April, but they always strip out autos and it's because it's volatile, |
| 1:50.1 | so we can get a pure number, it's what they do with the core, again, excluding food |
| 1:53.6 | and energy. |
| 1:54.6 | So when you strip out autos, retail sales, for the same percentage, 0.4%, this means there |
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