Jeff Rosenberg, senior portfolio manager at BlackRock Inc. (NYSE:BLK) said Thursday that inflation pressures may actually be nearing a peak despite recent hotter-than-expected CPI and producer inflation reports that reignited fears of further Federal Reserve tightening.
Speaking on CNBC’s “Closing Bell Overtime,” Rosenberg said markets may be looking beyond alarming headline inflation figures because underlying inflation measures appear more stable.
“If you look inside the data today, it was actually a little bit better in the details,” Rosenberg said, pointing to softer core PCE trends and easing tariff-related inflation pressures.
His comments came after U.S. consumer inflation rose to 3.8% in April from 3.3% in March, topping economist expectations and marking the hottest CPI reading since May 2023. Producer prices also surged more than expected, with headline PPI jumping 6% year-over-year in April, the highest level since late 2022.
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