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 are the anticipated CPI and consumption rates for the fourth quarter of next year?

What potential economic challenges were mentioned that could affect inflation?