Oil prices (BZ=F, CL=F) are falling on Monday morning as the market has initially shrugged off Iran's missile strikes against Israel. Still, some analysts expect oil prices to jump to over $100 per barrel, leading some to question the impact on inflation and the Federal Reserve's path moving forward.
UBS Global Wealth Management Head of Asset Allocation Jason Draho joins Yahoo Finance to discuss the market amid ongoing issues with the Fed's inflation strategy, geopolitical escalations, oil prices, and more.
Draho give his insight into how inflation will continue to play out in current market conditions; "I have some reason to be a little more confident that it still will continue as a downward trend, bumpy, not necessarily smooth, but that by year-end, core inflation will be lower. One thing is if you look at the core CPI ex-shelter, it's 2.4%, with shelter its 2.38%. If you look at real-time data on rents, it's all indicating that the shelter piece will continue to go down. When people talk about inflation re-accelerating, no one's talking about how there could be a wage price spiral, because if you look at the labor market and wage inflation, almost every single measure is going lower."
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