INFLATION RUNS HOT: What it means for the Fed's next rate move

• July PCE inflation (headline 3.7%, core 3.3%) is above the Fed's 2% target.
• Energy prices, particularly diesel, are expected to continue driving inflation.
• Economic growth is argued to be deflationary, not inflationary, by one economist.
• The Fed is anticipated to pause rate hikes due to current data, with Jackson Hole expected to be 'much ado about nothing'.
• Concerns about the national debt and lack of political will to cut spending are raised, with bond vigilantes potentially forcing future cuts.
• Meta Platforms (META) reached a $16.68 billion settlement with 29 states over child addiction lawsuits, with more states potentially joining.
• Nvidia (NVDA) earnings are in focus, with expectations of continued accelerating growth in revenue and earnings, driven by AI.

The discussion focuses on the July PCE inflation report (headline 3.7%, core 3.3%) and its implications for the Federal Reserve's policy. Experts debate the causes of inflation, with one guest refuting the Phillips Curve and highlighting energy costs and portfolio management fees. The Fed is expected to pause rate hikes. Also discussed are Meta's settlement and Nvidia's upcoming earnings.