Almost Friday! Distance makes the heart grow fonder, but don’t be fooled into thinking that the old TV package was a good deal. Navigating streaming services is a better choice than getting stuck with a take-it-or-leave-it plan.
In today’s big event, inflation is slowing just in time for a U.S. presidential election that will likely take place. focus heavily on the economy.
What’s on deck:
But first, cool (inflate) for the summer.
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Anna Moneymaker/Getty, Anna Moneymaker/Getty, Tyler Le/BI
Sometimes the biggest surprise is when there isn’t one at all.
Market pundits haven’t really seemed like “experts” this year, with their economic forecasts mostly missing. Nowhere is this more evident than their recent inflation estimates, which have been off target.
The two sides finally connected on Wednesday, with the April inflation report in line with experts’ expectations. THE The consumer price index increased by 3.4%a slight slowdown from the 3.5% year-over-year increase recorded in March, writes Business Insider’s Madison Hoff.
But don’t start counting your summer interest rate cuts before they’re announced. Even as investors beg for Fed policy easing, rushing things could cause problemswrites Jennifer Sor of BI.
Market analyst Ed Yardeni warned that a rate cut in June or July would create a market “meltdown.” Think of it like a sugar high: Stocks initially jump on relief, but eventually suffer a sharp decline.
The first reduction seems more likely in the fall. After all, Fed Chairman Jerome Powell hasn’t indicated he’s in a hurry.
CME’s FedWatch tool This appears to be in agreement, with interest rate traders viewing the September Fed meeting as the favored meeting for a rate cut.
This timetable means that the first rate cut will precede the US presidential election.
Powell said the election would not influence the central bank’s decision. And he has ties to both candidates: Former President Donald Trump nominated him, President Joe Biden re-nominated him. But it’s hard not to see how a first rate cut so close to the election could not have an impact.
The economy still weighs heavily on the American voter’s mind, but that’s even more true today. Inflation, housing prices and the cost of education and health care are top concerns for many voters heading into November.
On Wednesday, Biden and Trump agreed to face each other in two debates, the first arrives in June. But there is no need to wait to find out their position on these economic issues.
BI’s economics and policy team detailed Biden and Trump’s plans in eight major economic categories by analyzing their time at the White House and their campaign promises.
Even though the two countries are very far apart on certain issues (student debt), there is common ground (tax reductions for low- and middle-income households).
Yet chasms exist between the two sides’ perceptions of how their candidate has run the economy.
Take a KFF poll, which finds that 91% of Democratic voters think Biden has done more to reduce health care costs.
Meanwhile, 91% of Republicans think Trump did better during his term.
Roaring kitten; Getty Images; Alyssa Powell/BI
iStock; Alyssa Powell/BI
The Insider Today team: Dan DeFrancesco, associate editor and presenter, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, editor, in London. George Glover, journalist, in London.
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