The inflation numbers have been released, and the news is not good for anyone. The Consumer Price Index (CPI) has increased to 8.3%. A 10.6% decline in gasoline prices was offset by increases in rent, food and health care. Food prices rose by .8%, with the cost of food consumed at home increasing by .7%. The increase in CPI feeds into the argument Chris and Saied have been making for some time, and that so many social media personalities refuse to accept.
In today's episode of The Higher Standard, Chris and Saied discuss these new CPI numbers, the effect they're having on the economy, and the effect they will have on the Fed's upcoming rate hike decisions.
They discuss the market's reaction to the news, including the increasing possibility that the Fed could bypass the .75% increase and go straight to a 1% increase.
They also look at a recent report from Moody's Analytics, which says there are now 210 housing markets across the nation that are "significantly overvalued" — or overvalued by more than 25%. In those markets, Moody's predicts home prices to fall 5% to 10%. If a recession hits? Home prices in those regions could take 15% to 20% hits.
Chris and Saied also discuss the phenomenon that is Kaby Lame, the TikTok star with 150 million followers, who is reportedly on track to make $150 million a year.
This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation.
What You’ll Learn in this Show:
- Why the recent CPI numbers could signal a 1% increase from the Fed.
- Moody's report of "significantly overvalued" housing markets across the country, which could lead to a massive price drop.
- How Khaby Lame could be making as much as $10 million a year as a social media personality - without ever saying a word.
- And so much more...