E.J. Antoni

I think overall, these are very good numbers.

You know, we've seen them come down, obviously significantly from where they were under Biden.

But we also have to remember that there's a huge lag in some of the components that are contributing the biggest increases in this index.

The Bureau of Labor Statistics is not accurately capturing many markets in the country where rents are declining right now.

Instead, the indexes are still rising.

So inflation is most likely even cooler than these prints are suggesting.

The vast majority of the tariffs have not been passed on to consumers.

That's due to a couple of different factors.

One is the fact that the administration is simply refining the tariff strategy.

When they find markets like bananas or coffee, where the costs are likely to be passed on to consumers, the administration has rolled back those tariffs to make sure that consumers in America aren't paying the cost.

But when you have cases where middlemen,

or foreign exporters are going to bear the brunt of that tariff, the administration is leaving those in place, or in some cases, ramping them up.

That has resulted in revenue coming into the Treasury with minimal costs being passed on to consumers.

Vince, good to see you. Beautiful studio, by the way. My first time in here. I love it.

Vince, good to see you. Beautiful studio, by the way. My first time in here. I love it.

Vince, good to see you. Beautiful studio, by the way. My first time in here. I love it.

What about you? What do you think of me?

What about you? What do you think of me?

What about you? What do you think of me?

My pleasure. Thanks for having me.