Low Inflation Provides Best of All Worlds for Fed: Joy

David Joy, chief market strategist at Ameriprise Financial, discusses the potential for a 10% market correction by year-end due to anticipated Fed rate hikes. He highlights the lack of inflationary pressure and its impact on Janet Yellen's decisions. The discussion also covers the role of stock buybacks in market performance and the scenarios that could lead to a market correction. Joy expresses optimism about financials in a rising rate environment, noting benefits for banks and insurers.

What is the significance of the CPI data mentioned in the conversation?

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What role do buybacks play in the current market according to the discussion?

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Why might financials perform better in a rising interest rate environment?

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