Brian Jacobsen, chief economist at Annex Wealth Management, said inflation
printing in line with expectations is not necessarily a good report. He added
overall inflation shows little evidence that energy and commodity price gains
are feeding through into core inflation. Whether by force or ceasefire, the
clock to reopen the Strait of Hormuz is ticking; the Fed will not speculate on
timing, so President Trump needs to provide certainty ahead of the Fed meeting.
