Megan Horneman, the Chief Investment Officer for Verdence Capital Advisors, discusses recent economic information, particularly focusing on inflation and consumer data. She mentions that the Fed's preferred inflation indicator, core PCE, rose on a month-over-month basis, in line with expectations. Consumer spending data is also highlighted, showing a 0.7% increase, exceeding personal income. She mentions the final reading on consumer confidence, which saw a dip in future expectations for the economy but a significant rise in one-year ahead inflation expectations. Megan also talks about how the Fed is likely to appreciate the PCE numbers showing some deceleration in inflation, but they might be concerned about the persistent consumer spending. Megan also points out that company earnings and data from discretionary items suggest softening demand. This could indicate challenges for the consumer sector in future quarters.
https://youtu.be/xDfjFpixMR4
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