We will see services inflation come down in second half of 2023: Ed Yardeni

I think the data was pretty close to expectations. I think that there is still a perception that the Federal Reserve is looking for a restrictive level of the Fed funds rate and then they are going to keep it there. So I think what the inflation news confirmed is that once the Fed gets to where it wants to be and everybody seems to agree at this point that it is somewhere around 5 to 5.5% on the federal funds rate.

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