Jordi Visser Says Core CPI Doesn't Drive Annual Returns, Points to Jobless Claims Instead

Jordi Visser (): core CPI came in hot this week. He didn't read the report.
Anthony Pompliano () asked him directly on the Pomp Podcast why neither of them had CPI on their list of topics, even as the rest of the market called it the week's biggest story.
Visser's answer: core CPI sits at 2.6%, and whether it prints 2.2% or 3.2% has never decided a year's return. The S&P 500 has compounded more than 10% a year across every trailing window from 10 years back to 90. The only thing that has ever broken that run is job losses, and weekly jobless claims, adjusted for population, sit near an all-time low.
CPI reads like the story because it lands every month on a schedule. Jobless claims are the one number that has actually forecast a downturn, and right now they are not saying anything.
Podcast Alpha's coverage of this conversation lays out the two catalyst windows Visser is watching next and what would prove the framework wrong.