Stephen Kates, financial analyst at Bankrate and certified financial planner, on the June inflation report and falling personal savings rates

Stephen Kates, financial analyst at Bankrate and certified financial planner, joins Lisa Price to preview the June Consumer Price Index report, which is expected to show inflation easing slightly to around 3.9% as lower gas prices provide some relief, though annual inflation remains well above the Federal Reserve's 2% target. Kates also raises concern about the personal savings rate falling to 3%, half its pre-pandemic average, warning that Americans are eroding the financial cushion they need at a time when it is taking longer than ever to find a new job after being laid off.