CPI and PPI were not enough to change Fed policy in September, says Odyssey’s Jason Snipe
Published by CNBC Television
Introduction
In a recent interview with CNBC, Jason Snipe, the Chief Investment Officer at Odyssey Capital Advisors, discussed how the Consumer Price Index (CPI) and Producer Price Index (PPI) did not have a significant impact on the Federal Reserve’s policy decisions in September.
Key Points
- The CPI and PPI numbers released in September did not lead to any changes in the Federal Reserve’s policy.
- Jason Snipe believes that the Fed is more focused on other factors, such as employment data and inflation expectations.
- The Fed’s decision to maintain its current policy indicates that they are not overly concerned about the recent inflationary pressures.
Expert Opinion
According to Jason Snipe, “The CPI and PPI numbers were not surprising and were largely in line with expectations. The Fed is more concerned about the labor market and inflation expectations, which have not shown any significant changes recently.”
Market Uncertainty
Joe Terranova, a strategist at Virtus Investment Partners, believes that the market is unsure about how the CPI numbers will impact the Fed’s policy decisions. He suggests that the Fed’s focus on employment data and inflation expectations might overshadow the CPI figures.
Upcoming Pause
Vincent Reinhart, Chief Economist at Dreyfus & Mellon, predicts that the Federal Reserve is on schedule to pause in September. He believes that the Fed will maintain its current policy stance until there is more clarity on the economic recovery.
Conclusion
The CPI and PPI numbers released in September did not lead to any changes in the Federal Reserve’s policy. Experts suggest that the Fed is more focused on employment data and inflation expectations when making policy decisions. The market seems uncertain about how the CPI figures will impact the Fed’s actions, but it is expected that the Fed will maintain its current policy stance in September.
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