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Good morning and happy Tuesday. It's July 11th. Another day, another episode of Markets Daily. Thank you for tuning in, as always. We have lots to cover with our guests today. But first, let's get a quick update on prices and what's happened so far this morning because we did get a fresh CPI reading just now at 8.30 a.m. Eastern time, which showed that inflation has fallen to 3%, which is lower than expected.

So very good news for the market. And Bitcoin jumped about a half a percent on the news and is up 2.22% over the past 24 hours, trading at $59,000. Fed Chair Powell also continued his week of appearances on Capitol Hill yesterday and said, among other things, that the Fed will not wait until inflation is back down to 2% to start cutting rates.

He also said that the interest rates will not be going back down to near zero territory,

which they were at before the pandemic.

So it sounds like we could maybe see a rate cut or two this year after all.

But let's get a reaction and more to all of this with our guests today,

which is Ben Emmons, founder and CIO of FedWatch advisors. Good morning, Ben. Good morning. Thank you for

having us. Of course, Ben, what do you make of today's fresh reading of the CPI report?

Yeah, as you mentioned, it's a good report that does show that this inflation, as we talk

about, right, it's the decline of inflation month by month that is really on track now.

It's not accelerating, but it's in a good pace.

...