"There's no way to interpret the prints other than 'we have an inflation problem,'" says Jeff Klingelhofer. He says the Fed needs to address the "demand-side shock" and be willing to have the economy to reach its 2% inflation goal. Jeff also expects a tentative consumer pullback if Treasury yields stay elevated. David Busch adds that softening labor market poses additional challenges to its dual mandate. He now sees a greater investor focus on AI CapEx and ROI companies expect it to bring for the long-term.
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