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How Interest Rates and CPI Affect Car Buyers in 2024
Manage episode 424418978 series 3578171
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Last week something happened that has only occurred 13 times in the past 20 years. And the results were in-line with what history told us was going to happen.
On June 12, the Federal Reserve held a meeting and made an announcement on interest rates on the same day that the Consumer Price Index (CPI) – inflation reading – was released.
Considering the CPI is arguably the most important number in regard to the Fed’s decision on interest rates, it was a wild day. Stocks closed up big even though there was a late-day pullback. The rally was fueled by a lower-than-expected inflation reading.
On today’s Steady Trade podcast, Tim Bohen and Matt McCall discuss the inflation number and what to expect from the Fed in the future. More specifically we will delve into the industry of new and used vehicles. I know that may sound like an odd topic, but after a pandemic-surge in car prices, the last few quarters have seen used car prices in particular plummet.
Make sure you tune in to hear about a stock that is up 30X in less than two years and could still be a buying opportunity!
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