The Demand For Chinese Consumer Goods Has Yet To Pick Up Appreciably

July CPI has a few surprises, notes Michael Shaoul, Chairman, CEO, and Portfolio Manager of Marketfield Asset Management. He talks about how the "transitory" effects of the pandemic are finally being purged from the U.S. economy. He also highlights that there are a few obvious implications for September's FOMC meeting. He looks at the Consumer Price Index for July 2023, as well as takeaways from last week's inflation data and the chances for another rate hike in September. He previews the next FOMC meeting which is scheduled for September 19th-20th. He then goes over inflation and the Chinese economy. He mentions that both consumer and producer prices declined over the last 12 months. He suggests that the signs that the bottom for the inflation cycle have been put in place, and that the demand for Chinese consumer goods has yet to pick up appreciably. Tune in to find out more about the stock market today.