The producer price inflation report released on Tuesday stirred worries concerning a hot consumer price inflation print, which weighed down on the market in early trading. An economist, however, pointed to a data point that could allay concerns about pricing pressure.
What Happened: The results of the National Federation of Independent Business’s small business survey released Tuesday threw up some encouraging news for Wednesday’s CPI print, said David Rosenberg, founder and president at Rosenberg Research & Associates, in a post on X.
Sharing two charts on current and future pricing power, the economist said the “downtrend in both is notable.” He also said the latest installment of the Fed’s Beige Book, a compilation of anecdotal evidence of economic conditions in the 12 Federal Reserve districts nailed this.