Fox News contributor Brian Brenberg said the “ugly” September inflation report is going to be a problem for stock markets because it shows that inflation is continuing to be worse than expected. On “Fox & Friends” Thursday, Brenberg warned that inflation has reached deeper into the economy, and it will only be more difficult to recover.
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BRIAN BRENBERG: This is an ugly report that we just got. People already know the numbers in a sense, because they felt them last month. But now we’re getting the numbers: 8.2% year-over-year, that beat expectations. A 6.6% core number, both of those numbers are higher than we expected to see. They’re higher than markets expected to see. That’s going to be a problem for markets. They’re going to get nervous now because that means the Fed has an even harder job than they thought they had. … This is the report the stock market didn’t want to see because inflation continues to be worse than expected. And I want you to pay attention to that core number, that 6.6% increase, because what that means is that inflation has reached deeper and deeper into the economy. It’s spread farther, and it’s going to be harder to get out.
