"And inflation from month to month is going to be very challenging and very volatile indicator. So the way that we keep looking at it is there's no room for error," McCormick tells Yahoo Finance."So next week's inflation number, if it comes in hot this whole narrative is gone. If it comes in as expected, then we get another inflation print where it's like 'yes, they can still probably go in September.
But I think one of the things that is very challenging is they're like, yes, inflation is going in the right direction, the economy is a little bit slower, but the econom economy is coming down from a very hot level and all you're kind of going is from one altitude to the next.So the way that we keep looking at it is there's no room for error.If it comes in as expected, then we get another inflation print where it's like, yes, they can still probably go in September.
Th th this is like I I many people including myself believe we are in a structurally different world post 2020 with a lot of the things that are handing over from 2010, all the to this point where demographics, geopolitics, population growth, structural changes in supply chains, all these things are working towards a higher inflation in area environment.I think you could see that 2% is basically a floor at this point.
Um And so I think a big piece of it is what's driving it is now there's political uncertainty in Europe fragmentation debt levels, France not being able to generate enough growth to offset what could be a dysfunctional government and their ability to kind of create an environment where foreigners feel acceptable to take that level of risk, buying oats or buying Euro or buying European stocks.So it's political environment, it's monetary policy, it's relative growth.
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