JPM's Kelly Sees US Hitting Fed's 2% Inflation Target Next Year

The transcript discusses the Consumer Price Index (CPI) and Producer Price Index (PPI) in relation to economic expectations. It highlights the impact of hotel rates on shelter costs and examines gasoline price trends, noting a decrease in prices despite high crude oil levels. The speaker is optimistic about inflation decreasing, predicting a CPI of 2% or less by the fourth quarter of next year. However, challenges such as the UAW strike and potential government shutdown are noted as economic weights.

What was the unexpected factor that contributed to the increase in shelter costs?

• A rise in food prices

• An increase in hotel rates

• Higher transportation costs

• Increased utility bills

How have refiner margins affected gasoline prices?

• They have caused gasoline prices to increase

• They have had no effect on gasoline prices

• They have led to a decrease in gasoline prices

• They have stabilized gasoline prices

What is the expected trend for the CPI by the fourth quarter of next year?

• It will be above 3%

• It will remain the same

• It will be 2% or less

• It will increase significantly

What potential economic challenge is mentioned that could occur in November?

• A housing market collapse

• A banking crisis

• A government shutdown

• A stock market crash

What is the speaker's overall outlook on inflation?

• Inflation will remain unpredictable

• Inflation is expected to decrease

• Inflation is expected to stabilize

• Inflation is expected to rise