So we had big news.

The inflation data came out today.

The CPI report that everybody was anticipating.

And let's go over to the calendar.

Check it out and see what has happened.

And first and foremost, I have to give mad props to my good buddy Peter Schiff that absolutely

nailed the move in this specific asset class. Am I talking about gold? Kind of, kind of,

but not really. But then at the end of this video, I'm going to go over some of the things that I think my good buddy, Peter, has wrong.

And how this puts the Fed into a very difficult predicament going into their rate cut decision.

Okay, so that's what we're going to review.

Now, let's go over to the news. Drum roll, please. We see the calendar and expectation month for month was for point three. We got a point four. Yikes. So is this stagflation? I don't think so. And I'll tell you why. And I think that's what Peter is getting wrong. But we're also going to go over what Peter got absolutely right. And actually what he got right is probably more important than where I think he's wrong. All right. So with some rounding, I'm assuming,

we've got year-of-year at 2.9,

which hit expectations core.

0.3 month-over-month,

and year-over-year, 3.1.

But here we go, guys.

Here we go.

Look at the initial jobless claims.

263.

So the expectation was for 236, 263.

So, I mean, think about all the negative data we have had in the labor market just over the last week.

And we remember Joltz numbers, terrible, ADP numbers, terrible, non-farm payrolls, atrocious, benchmark revisions, horrific.

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