Inflation is going in the wrong direction, adviser says

Recent economic data, such as Tuesday’s hotter-than-expected Producer Price Index (PPI) reading, suggest inflation is not moving as swiftly as hoped toward the Federal Reserve’s 2% target.
Verdence Capital Advisors Chief Investment Officer Megan Horneman joins The Morning Brief to give insight into how the markets are moving and why the Fed will need to adopt a more hawkish tone to rectify the current inflationary trend.
Horneman explains that beyond the recent PPI report, there have been other economic warning signs: “This isn’t the only report that has warned us that inflation is not going in the right direction. You can look at the ISM Manufacturing Report. You can look at the ISM Services Report. All of these things are showing that inflation and prices are trending higher again. The market’s completely complacent to this. The Federal Reserve is complacent to this. And we need to get some more hawkish rhetoric or we’re going to continue to see inflation pressures go higher.”
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