to shed light on the implications of the CPI printIt's Wednesday May 15th.Of course, CP I print cooling for the first time in six months and that could be in as welcome news for the fed, the data causing and pushing stocks up here with the and be hitting new all time high and the mean stock rally fly now here game stop is falling today after soaring over 300% in the last month.
Joining us now, we've got Christian Lawrence Rob, a Bank Senior Cross Asset macro strategist, Christian, thanks for coming in person.So markets very happy about the CP I print is a little bit too much happiness for see, I think so. And without that easing, without seeing consumption start to slow, we're not going to get that 2% target.
And actually when it comes to goods, we had core goods deflation I actually think in the next couple of months, some of the shipping costs we saw earlier this year that's going to start filtering through and we could actually get a little bit more upward pressure on that good side of things as well. Then given the fact that it almost seems like by the week, the narrative is changing surrounding the Fed not too long ago we were talking about, hey, maybe we could potentially see another hike now that now the sentiment and now the conversation has really turned to the likelihood of cuts, which I think makes the most sense.
And in fact, a lot of those bigger names to the left uh are simply not participating in the meme trade anymore. But I should note that a lot of these gains have been fleeting and that's something that's really, that does seem similar to the original uh movement that we had last year.I'm gonna show you some breaks in the action.And I see these comment coming across the terminal.And the question is, how much like this are we going to repeat from 2021?We really appreciate it as always.
What you're going to see in Washington over the next year or two is a, is a continued move towards shoring up the defense industrial base and that's really what's behind a lot of the tariffs, uh politics and politics aside.What are some things that investors should keep in mind when we talk about how it could ultimately impact a handful of these US companies here down the road?
And you got to say that in the White House, the last thing you want to do is be, is, is politically, is being caught saying that administration policies are contributing to inflation.I I also want to say a little bit more directly uh something that uh uh MT is uh uh alluding to which is that it's awfully rich that the uh the, the Chinese are talking about uh violating trading standards set in the WTO uh China for China.
So the United States from its perspective, feels like it has very little else it can do other than take unilateral action.My question to you is this obviously coming ahead the November election?It's Washington's instinct to want to continue to try to do everything it can to uh to actively help the the incumbent or, you know, the other campaigns will attack it.
What impact does that have on some of these broader foreign policy moves from the current administration?Firstly, it will keep the aggressive foreign policy stance from from the current administration up. I think actually there's a lot of, uh, back and forth about whether he's, uh, whether he takes votes from Biden or takes votes from Trump.Uh, but in a, in a, in an electoral college race where it's down to 7 to 10 states.I mean, Wisconsin and Nevada, let's say, are two very different states politically.
So I think we're in a really exciting transition right now where for the first year or so through most of 23 many, many companies were focused on just understanding the technology and what it could possibly do.And the challenge is if you take 1000 flowers bloom approach, you don't translate anything into real outcomes at scale.
And that starts to get pretty exciting for businesses rich in terms of the what ceos need to communicate to their employees, to shareholders of their public company here in terms of why this A I investment makes sense. And, and I think that that's what investors want here and then within a relatively short space of time, they should get to see tangible business outcomes.Actually, we would we have this framework in BC G that we talk about all the time.70% is on people process org leadership culture, all of the things to go from having a very interesting capability to actually deploying it.
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