MacroVoices · Thursday, October 1, 2026
David Rosenberg argues that the current inflation narrative is overblown, noting that the same people who cited tariffs last year are now citing energy prices. He points to the core goods CPI decelerating to a four-year low of below 0.7%, suggesting that the feared persistent inflation from tariffs did not materialize.
“Is inflation the big threat? That it's made out to be. In my opinion, It's not.”
“A year ago, The year-over-year trend in the core goods CPI was running at 1.5%. Today it's running below 0.7%. It's at a four-year low.”
“Somebody must have eaten the tariff increase.”