Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins us to recap the inflation (PCE) and spending data released this morning, which broadly came in above estimates. This is shifting forecasts for Fed rate hikes to more/longer which is pushing markets down. Joel thinks the market highs for this year are in but markets will not go straight down to the lows of 2022.
Click here to visit Joel’s PreMarket Prep website.