RUSH TRANSCRIPT Well we ░░░░░░░░ have markets react this ░░░░░░░░ instantly to the big ░░░░░░░░ report Stock don t ░░░░░░░░ to be too worried ░░░░░░░░ that report in general ░░░░░░░░ does this mean the ░░░░░░░░ isn t going to ░░░░░░░░ their bond buying anytime ░░░░░░░░ That s the big ░░░░░░░░ mark let s bring ░░░░░░░░ shana sissel and Courtney ░░░░░░░░ Thanks for having me ░░░░░░░░ do you think the ░░░░░░░░ is going to do ░░░░░░░░ now because the market ░░░░░░░░ t seem to be ░░░░░░░░ worried about inflation right ░░░░░░░░ but the market over ░░░░░░░░ last month or so ░░░░░░░░ been very nervous about ░░░░░░░░ I think the Fed ░░░░░░░░ going to continue its ░░░░░░░░ that this is a ░░░░░░░░ event and the evidence ░░░░░░░░ does support that The ░░░░░░░░ to inflation that have ░░░░░░░░ caused inflation to rise ░░░░░░░░ the things you would ░░░░░░░░ Airfares rental cars automobile ░░░░░░░░ hospitality all of these ░░░░░░░░ are the key drivers ░░░░░░░░ then we ve had ░░░░░░░░ disruption that are one ░░░░░░░░ hopefully things like the ░░░░░░░░ with the meat company ░░░░░░░░ the hack of the ░░░░░░░░ pipeline that kind of ░░░░░░░░ an inflationary effect short ░░░░░░░░ so I m going ░░░░░░░░ absolutely keep to the ░░░░░░░░ that it s transitory ░░░░░░░░ are going to stay ░░░░░░░░ for now which could ░░░░░░░░ good or a bad ░░░░░░░░ I don t know ░░░░░░░░ I was looking at ░░░░░░░░ report from the OECD ░░░░░░░░ the global economy and ░░░░░░░░ inflation has been rising ░░░░░░░░ particular we saw a ░░░░░░░░ 4 jump in global ░░░░░░░░ just for the month ░░░░░░░░ April so it s ░░░░░░░░ just the U S ░░░░░░░░ story The reason that ░░░░░░░░ is because of all ░░░░░░░░ the supply chains that ░░░░░░░░ now reopening and prices ░░░░░░░░ the world We still ░░░░░░░░ a lot of things ░░░░░░░░ this country and as ░░░░░░░░ can see on the ░░░░░░░░ right here we ve ░░░░░░░░ shortages across the country ░░░░░░░░ it s bacon or ░░░░░░░░ or I found out ░░░░░░░░ couple of days ago ░░░░░░░░ believe it or not ░░░░░░░░ in short supply Yeah ░░░░░░░░ I really think that ░░░░░░░░ trend very well may ░░░░░░░░ because you ll see ░░░░░░░░ of these inputs coming ░░░░░░░░ with commodities prices we ░░░░░░░░ just noticing it in ░░░░░░░░ day to day things ░░░░░░░░ the grocery store but ░░░░░░░░ we re just looking ░░░░░░░░ the employment report which ░░░░░░░░ came out and it ░░░░░░░░ showing that we have ░░░░░░░░ really tight labor force ░░░░░░░░ now which is going ░░░░░░░░ lead to wage inflation ░░░░░░░░ that is where that ░░░░░░░░ so I m actually ░░░░░░░░ much think we ll ░░░░░░░░ to see the trend ░░░░░░░░ and it s just ░░░░░░░░ important that you make ░░░░░░░░ that you have things ░░░░░░░░ your portfolio if that ░░░░░░░░ in fact continue and ░░░░░░░░ do agree I don ░░░░░░░░ think the Fed is ░░░░░░░░ going to change their ░░░░░░░░ right now and I ░░░░░░░░ what s more important ░░░░░░░░ you actually want to ░░░░░░░░ what the bond market ░░░░░░░░ doing because they are ░░░░░░░░ to start pricing inflation ░░░░░░░░ before the Fed does ░░░░░░░░ so just make sure ░░░░░░░░ re prepared before inflation ░░░░░░░░ not after but I ░░░░░░░░ think that that global ░░░░░░░░ that you re mentioning ░░░░░░░░ happening that s kind ░░░░░░░░ the leading indicate or ░░░░░░░░ re going to see ░░░░░░░░ down to prices The ░░░░░░░░ we ve seen in ░░░░░░░░ stocks is really reflected ░░░░░░░░ worries we re talking ░░░░░░░░ There is the 10 ░░░░░░░░ right now again down ░░░░░░░░ basis points but 1 ░░░░░░░░ is not the worst ░░░░░░░░ be honest with you ░░░░░░░░ summer is underway you ░░░░░░░░ got summer sticker shock ░░░░░░░░ full effect right now ░░░░░░░░ weekend we might see ░░░░░░░░ get even worse as ░░░░░░░░ will be the first ░░░░░░░░ that we re going ░░░░░░░░ see possibly the full ░░░░░░░░ of the jbs cyberattack ░░░░░░░░ grocery stores with meat ░░░░░░░░ chicken with pork Yesterday ░░░░░░░░ spoke with a California ░░░░░░░░ deli owner and he ░░░░░░░░ to shut the deli ░░░░░░░░ because of high prices ░░░░░░░░ For us this is ░░░░░░░░ a labor related issue ░░░░░░░░ is a supply chain ░░░░░░░░ I ve learned about ░░░░░░░░ it s centralized the ░░░░░░░░ chain is We have ░░░░░░░░ big huge gear now ░░░░░░░░ opposed to a lot ░░░░░░░░ little gears when there ░░░░░░░░ a slaughterhouse in every ░░░░░░░░ It s a big ░░░░░░░░ so I just want ░░░░░░░░ to remember that this ░░░░░░░░ not the end of ░░░░░░░░ world but it just ░░░░░░░░ longer for that big ░░░░░░░░ gear to get grinding ░░░░░░░░ I have full confidence ░░░░░░░░ ll be out there ░░░░░░░░ how long do you ░░░░░░░░ the speak in meat ░░░░░░░░ will last because we ░░░░░░░░ remind our viewers that ░░░░░░░░ prices were already rising ░░░░░░░░ into this jbs cyberattack ░░░░░░░░ hit this week Yeah ░░░░░░░░ supply chain of meat ░░░░░░░░ many things has been ░░░░░░░░ in this case by ░░░░░░░░ cyberattack but the pandemic ░░░░░░░░ been very disruptive to ░░░░░░░░ global supply chain as ░░░░░░░░ noted earlier and it ░░░░░░░░ going to take a ░░░░░░░░ because inventories for pretty ░░░░░░░░ everything have been kept ░░░░░░░░ lien because there was ░░░░░░░░ demand and it was ░░░░░░░░ to understand what kind ░░░░░░░░ demand you need to ░░░░░░░░ for and I think ░░░░░░░░ would rather raise the ░░░░░░░░ and make a little ░░░░░░░░ more profit for the ░░░░░░░░ being rather than to ░░░░░░░░ up inventory for what ░░░░░░░░ very well be short ░░░░░░░░ demand spikes so I ░░░░░░░░ think that it s ░░░░░░░░ to take a while ░░░░░░░░ supply chain and demand ░░░░░░░░ kind of reach some ░░░░░░░░ of equilibrium and in ░░░░░░░░ meantime I think we ░░░░░░░░ see inflation across the ░░░░░░░░ not just because of ░░░░░░░░ cyberattack but you know ░░░░░░░░ ve seen it in ░░░░░░░░ prices we ve seen ░░░░░░░░ in a lot of ░░░░░░░░ of different ways and ░░░░░░░░ pointed out there s ░░░░░░░░ many reasons for that ░░░░░░░░ ultimately I think it ░░░░░░░░ going to be at ░░░░░░░░ until the end of ░░░░░░░░ year if not longer ░░░░░░░░ Yeah I think it ░░░░░░░░ going to take a ░░░░░░░░ for some of these ░░░░░░░░ chain issues and it ░░░░░░░░ is kind of the ░░░░░░░░ effect where it effects ░░░░░░░░ industry those prices increase ░░░░░░░░ it effects another so ░░░░░░░░ know as it fixes ░░░░░░░░ you are going to ░░░░░░░░ that down the line ░░░░░░░░ other independence so this ░░░░░░░░ take a little while ░░░░░░░░ weed itself out I ░░░░░░░░ agree we re looking ░░░░░░░░ at least the end ░░░░░░░░ the year but definitely ░░░░░░░░ to keep an eye ░░░░░░░░ here as we keep ░░░░░░░░ reports showing how the ░░░░░░░░ is in fact impacting ░░░░░░░░ economy Well thank you ░░░░░░░░ both of you Stay ░░░░░░░░ there we ll be ░░░░░░░░ you back in just ░░░░░░░░ little bit but first ░░░░░░░░ ve got the biggest ░░░░░░░░ event ever kicking off ░░░░░░░░ Miami today We re ░░░░░░░░ to speak with some ░░░░░░░░ the major players that ░░░░░░░░ coming up.