Excerpt from Politico's Morning Money, "White House allies push back on inflation narrative"
By BEN WHITE and AUBREE ELIZA WEAVER - 06/15/2021
People close to the White House are pushing back pretty hard on the idea that rising prices across the economy are indicative of a longer-term trend that could upend President Biden’s agenda and require quick action from the Fed.
And some money managers are pointing to the lumber story as well as indicative that inflation freak outs are not really warranted.
Cumberland’s David Kotok emails MM: “Lumber surged. Crowd shouted ‘inflation’. Lumber plunged. Did you hear ‘deflation’? Watch used car prices flatten and roll over. Watch oil/gasoline. Trimmed mean gap is key to observing ‘transitory’ or trajectory upward.
Read the full newsletter here: https://www.politico.com/newsletters/morning-money/
Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.
Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.