# @benzinga on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=PWryjqUtArE
- **Gondola URL:** https://gondola.cc/posts/70717350-benzinga-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/e4bd395062.jpg
- **Posted:** 2026-09-14T16:57:37.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

For most of the past year, investors were waiting on one thing from the Federal Reserve: rate cuts. Then, over just a few weeks, that hope vanished, and the market flipped from expecting cuts to bracing for a possible rate HIKE. As one Realtor.com economist put it, the question is no longer if the Fed hikes, but when. This short is a clip from the full breakdown on my channel: "It's Not IF the Fed Hikes, But WHEN." The twist almost everyone is getting wrong: it did not happen because inflation came roaring back. The key is a distinction most people never hear explained. The Consumer Price Index, the CPI, is the inflation number you hear about most, but the Federal Reserve actually targets a different gauge called Personal Consumption Expenditures, or PCE, at 2 percent. CPI cooled off from its highs earlier this year. But the Fed's preferred PCE measure did something more troubling. It fell a long way from its 2022 peak near 7 percent, and then progress just stopped. It has been stuck around 3.7 percent, with core PCE near 3.3 percent for months, well above the 2 percent target and refusing to fall further. For a central bank, a stall this close to the finish line is arguably scarier than a spike. A spike has an obvious cause you can wait out. A stall that just sits there suggests inflation might be getting sticky, digging in, becoming the new normal. That is the real thing that killed the rate cuts and put brand-new Fed Chair Kevin Warsh on high alert. In the long-form video I break down exactly what Warsh signaled at Jackson Hole, why his tough talk is about credibility and a genuine inflation stall rather than a fresh emergency, the one real wildcard that could force an actual hike (oil), the honest answer on whether the Fed will raise rates at its September meeting, and what "higher for longer" means for a stock market that got addicted to cheap money. Watch the full video on my channel.
Sources: CNBC, Reuters, Wall Street Journal, The New York Times, Fox Business, Federal Reserve, Federal Reserve Bank of Cleveland, Bureau of Economic Analysis, and Realtor.com.
$SPX.
#Fed #InterestRates #StockMarket

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## Stats

- **Views:** 614
- **Likes:** 6
- **Shares:** 0
- **Comments:** 1

## Tags

stockmarket, interestrates, fed

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