The possibility of issuing himself a pardon. Good morning and welcome to Way Too Early on this friday, september 15th. Im jonathan lemire. Thanks for starting your day with us. And well begin this morning with Tens Of Thousands of United Auto Workers hitting the picket lines. The union officially went on strike against detroits big three auto makers at midnight. Nearly 13,000 members walked out of three plants in missouri, ohio, and in michigan. The strike is against general motors, ford, and stellantis. The union and the companies failed to reach a deal on a new collective Bargaining Agreement before the current contract expired at the stroke of 12 00. Tonight for the first time in our history we will strike all three of the big three at once. We are using a new strategy, the stand up strike. We will call on select facilities, locals, or units to stand up and go on strike. This strategy will keep the companies guessing. It will give our National Negotiators maximum leverage and flexib
Shelter and housing. And particularly you mentioned the cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects to raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december. Dimitri, how have consumers and bu
A lot of the inflation, if you look at it in the us, is really coming from shelter and housing. And particularly you mentioned the cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week