Regarding September Inflation, Look Beyond the Headlines

The results are in! Social Security beneficiaries will receive a 3.6% cost-of-living adjustment next year, the biggest since 2023. To us, that is the primary takeaway from September’s Consumer Price Index report, which determines seniors’ annual pay bump. But headlines focused on inflation itself, warning high energy prices are now rippling through the broad economy. Some tied stocks’ volatility to this. We think that is a stretch. Look closely at the CPI report and you will see things didn’t worsen under the hood. Meanwhile, other news seems more relevant to the S&P 500’s rocky Wednesday. Read Full Article »