Economist: In-line inflation isn't bullish, Strait of Hormuz resolution is urgent

Inflation data meeting expectations does not mean it is a positive report, said Brian Jacobsen, chief economist at Annex Wealth Management. He added that there is no clear evidence in the overall data that rising energy commodity prices are spilling over into core inflation. Jacobsen emphasized that time is running out to open the Strait of Hormuz, whether by force or ceasefire. Because the Fed will not speculate on when this issue might be resolved, he argued, President Trump must provide a clear answer before the central bank's next meeting.