Let's come home now to some domestic Issues some good news on the economic Front today year-over-year inflation Reaching its lowest level in more than Three years that was in the month of July Prices rose 2.9% falling below that 3% Mark for the first time since 2021 so We're watching with great eyes right now On how the markets are reacting to this News looking live at the big board right Now we're in positive territory still Not Gang Busters but at least we are in Positive territory CBS news 24/7 will Watch that throughout the afternoon and We'll bring you how the market closed on This broadcast President Biden owning This as a win he's saying this report Shows progress in fighting inflation and Lowering costs for American households So let's bring in Kristen Meers Editor-in chief for etf.com okay so Prices didn't Rise by that 3% Mark since 2021 we got that but they still Rose 2.9% so is this a win for President Biden or a win for the Consumer I I would definitely call this More a win for the American Consumer Look we are in an election year so it Doesn't surprise me of course that President Biden would kind of take this Uh cooler than expected inflation print Really as a victory for himself and for The Democratic party but reality I would In reality I would actually say that
This is a win for the Federal Reserve Which has honestly kept these really High interest rates that hiked rates Over and over again that really kind of Put American consumers and also Investors in this kind of a bit of a Crunch and and a little bit of an Economic pain but this is exactly the Reason why they did that they wanted to See those inflation numbers come down And now investors can definitely cheer That in September that we're going to be Getting a rate cut and for American Consumers anyone that's watching we can All definitely cheer that at least when We go to the grocery store when we go Purchase things at the mall or at any Stores it is going to cost us less money Our dollar is going to go further and so This is something that we're seeing that Economic pain is easing and I think it's Something that we can all be really Happy for we know that the feds will be Meeting in Jackson Hall Wyoming a Billionaires Enclave in the month of September any chance that they could Meet any sooner and we could see rates Come down that's the first part of my Question what are you hearing about how Rates might come down we're hearing a Quarter percent maybe even a half Percent is that true yeah so that has Really been the big question it is Really all but presumed like an 100%
Rate right now that we are definitely Going to be getting a rate cut but as You're mentioning how big of a rate cut Are we going to get has really been the Main question now just last week we saw A lot of volatility in the markets and We saw Traders really um anticipating That we were going to get a super sized Rate cut that's a 50 basis point rate Cut we've now seen that hope really kind Of back off it is really now presumed About 60% that we're going to be getting A 25 basis point cut it's going to Happen in September there's really no Reason for the FED to kind of give us a Rate cut any sooner we're not in an Economic emergency right now even though It might feel that way if you go go and Look at your Investment Portfolio but The economy is still holding on pretty Strong right now so September is the Time that we're going to be expecting That recut Kristen you know what I'm Excited about maybe paying less when I Check out of the register for dog food We did a little intelligence and we know You have a dog sitting at your feet we Have to bring that dog to our viewers on The stream coast to coast and streaming Worldwide show us your dog if you will You want to see my dog he's here he's He's sleeping right now I'm going to Wake him up and he's going to try to Join in on on on the on on the broadcast
But yes he is here next to me right now He's also excited because this really Means cheaper prices means that he gets More treats so I get to spoil him a Little bit more all right thank you so Much always making us smarter Kristen
