Low Inflation, High Inflation

The consumer is strong but some leading indicators are weak

Succinct Summary: Inflation is slower than it had been, but there’s still a fair amount of inflation in the world. CPI was up 4.9% y/y, which is the smallest increase since April 2021, but still well above the Fed’s target rate and core inflation was higher. Stan Druckenmiller seems to be seeing the same trends as the Transcript: strong consumer mixed w…