VOO - Cost-Of-Living Crisis Over? Renowned Strategist Tom Lee Says Inflation Is On A Straight Line To Sub-2% By The Middle Of Next Year — Here's What He Likes Right Now | Benzinga
Inflation has been a big concern for both the Federal Reserve and investors. But according to Tom Lee, co-founder and head of research at Fundstrat Global Advisors, this concern will soon diminish.
"I think inflation is on a glide path towards sub three, sub two by the middle of next year," Lee said on CNBC recently.
In July, the consumer price index (CPI) rose 3.2% from a year ago. Core CPI, which excludes food and energy, showed a 12-month increase of 4.7%. Both metrics increased by 0.2% month over month.
Lee explained that shelter costs, which have been driving core inflation, will "start to cool." He also sees "a lot more downside" in used car prices.
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"I think we could print something pretty low, because when shelter goes to zero then you could have core at zero," he noted.
The Fed has raised interest rates significantly to stabilize price levels. It has an inflation target of 2% ...