Introduces Jim Bianco as inflation skeptic who correctly predicted inflation wouldn't come down easily
Host 1
Jim Bianco
Core CPI still can't get under 3%, believes we're in 3% inflation camp which puts Fed funds neutral rate around 4%
Asks how Fed can avoid cutting rates with weak job numbers showing 52,000 three-month moving average
Host 1
Jim Bianco
Fed already cut rates in September and October in response to this data, weak report would just confirm existing policy
Jim Bianco
Labor supply changes due to population decline mean we need fewer jobs - 30,000-50,000 jobs may be sufficient
Asks what economic data to pay attention to tomorrow
Host 4
Jim Bianco
September data is two months old, will help justify past rate cuts rather than guide future policy
Asks about K-shaped economy - always existed or more pronounced now
Host 4
Jim Bianco
K-shaped economy most pronounced ever due to prices outpacing wages - CPI up 26% vs wages up 21% since COVID