Inflation came in hotter than expected, and Elon is answering for his actions with DOGE. Let’s break it all down on the Weekly Update with Brett Witkowski.

First, the year-over-year CPI change is now at 3%, signaling persistent inflation concerns. This raises tough questions—will rates stay higher for longer, or are more hikes on the table?

Now, let’s talk about DOGE. In a press conference yesterday, Elon Musk addressed his plans for DOGE. This could be a reflection of where the country stands economically. As we try to manage inflation with minimal pain, we may face tough fiscal choices—cutting government programs, reducing aid, and, on the corporate side, downsizing, furloughs, and cost-cutting measures to curb inflation’s impact.

The latest CPI release highlights two key takeaways. The largest inflation spike has come from protein sources—meat, poultry, fish, and eggs. This is the first economic data showing the impact of bird flu, with egg prices up 53% year-over-year and 15% in the past month. Other protein markets are also seeing price increases as they serve as substitutes for eggs.

What does this all mean? Rising inflation is forcing markets to adjust expectations for rate cuts. DOGE is just a symptom of what may be needed to get inflation under control. This is also the first clear economic data showing the effects of bird flu, and we expect this to be a major discussion point heading into 2025.