Transcript

0:05
Megan Horneman: Hello, this is Megan Horneman, the Chief Investment Officer for Verdence Capital Advisors, and we are coming to you today to give you an update on some economic data we've received this week.
0:14
Megan Horneman: It's been all about inflation.
0:16
Megan Horneman: We received inflation on both the consumer level and the producer level.
0:20
Megan Horneman: Both of these reports were good.
0:22
Megan Horneman: They came in lower than anticipated by economists, so that means that inflation is softening at both of those levels.
0:29
Megan Horneman: This doesn't change anything, in our opinion, from what the Federal Reserve is going to do by hiking interest rates this month.
0:35
Megan Horneman: There are three things the Fed's watching that we have to focus on it's wage inflation, service inflation and housing inflation.
0:41
Megan Horneman: All three of these are showing signs of improvement, but way too elevated for the Fed's comfort level, so we think they'll still hike one more time.
0:49
Megan Horneman: We'll see what goes on between now and their next meeting in September, but at this point it doesn't change their trajectory and they still have some work to do before they officially say that the tightening cycle is over.
0:59
Megan Horneman: That's all I have today.
1:01
Megan Horneman: If you have any questions or feedback, please feel free to reach podcast at verdence.
1:04
Megan Horneman: com Thanks