Gerald Cohen Chief Economist at the UNC-Chapel Hill Kenan Flagler Business Institute

Most stocks are falling on Wall Street following a disappointing update on inflation. But gains for Amazon and other influential Big Tech companies are helping to mask the losses on Thursday, and the S&P 500 edged down by just 0.1% after setting an all-time high the day before. The hotter-than-expected inflation report forced traders to second guess the widespread consensus that the Federal Reserve will deliver relief next month by cutting interest rates. Treasury yields rose. Gerald Cohen, Chief Economist at the UNC-Chapel Hill Kenan Flagler Business School, joined Jeff Hamlin to discus the inflation update.