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U.S. consumer price index (CPI) data for October showed headline inflation at 0.4% and core inflation at 0.3%, with both figures coming in above estimates and marking the third consecutive month of core inflation above 0.3%.
Gordon Johnson, CEO and analyst at GLJ Research, noted that the Bureau of Labor Statistics was unable to publish a year-over-year figure due to a shutdown gap and estimated the headline inflation rate to be near 4%. Johnson described the Federal Reserve's continued balance sheet growth in this environment as reckless behavior.
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Johnson has previously commented on Tesla’s strategic adjustments. He reported that Elon Musk cut Tesla’s 2030 annual car forecast from 20 million to 5 million units. In another note, he observed that Tesla’s Q3 deliveries grew 1.4 percent, with a decline in the U.S. offset by gains in China.