Tom Lee is Fundstrat Global Advisors co-founder and head of research. Spoke with CNBC on Monday.
He is expecting inflation data from the US due on Friday (PCE) to be cooler.
- “One print can be uncertain, but I think the forces underway for inflation to fall like a rock are in place”
- there do not seem to be any new drivers of inflation
- so it can surprise to the downside
- expects inflation to fall sharply due to a recession in durable goods
- said there is “urgency” for the Federal Reserve to begin cutting interest rates
The data is due on Friday 25 July at 0830 US Eastern time / 1230 GMT
