Hello, Rebel Capital Soap You're Well, so where the CPI report come out yesterday, the CP Lie, the new one, this is amazing for June, and it definitely shocked the markets.

In fact, the month over month for June fell to a negative number,

a negative number.

That is right. Let's go right over to

C and check this out. Before we do, I'm going to remind everybody of a

video we did on Wednesday, I believe, where you're talking about how Jerome Powell was doing kind of a pivot, right?

He was trying to set things up for rate cuts sooner than later.

He was trying to walk that tightrope, where he didn't want to say the economy is going into

recession but he wanted to say well we can't really keep rates too high forever.

Well let me do a screen share and I want to show you what I'm referring to right here. Remember this?

Fed Chair Powell says holding rates high for too long could jeopardize economic growth. He said this just on

I was on Tuesday looking at this article and at the time I'm like okay yeah he's just

planting the seeds right now so he has an excuse to drop rates because he

sees the underlying data becoming weaker and weaker and he knows the

probability of hard landing is going parabolic and sure enough what do we have

when the C. P. I report comes out on Thursday but a negative number.

Inflation falls. 1% in June. Now keep in mind guys because a lot of people are going to

comment and say George inflation is still four or five six percent I totally agree.

I totally agree. I'm not saying that prices actually fell in aggregate total. Some

prices did but I'm not saying in aggregate total the stuff that you guys buy daily

fell in price that you're getting a break.

No, no, no. The reason I look at the CPI and I pay a lot of attention to it is not to get an accurate number but to

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