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Rekenthaler called shelter costs the "most relevant data point" in the most recent consumer price index inflation report.
Meanwhile, James Bianco, president of Bianco Research, a financial markets research firm, told Business Insider, "Rising shelter costs will cause the Fed to hold off on cutting rates."
Anna Moneymaker/Getty ImagesRent and shelter costs tend to lag behind the rest of the economy because rents are typically fixed for long periods.
However, Gordon also said shelter costs can't be ignored because of how much it impacts overall inflation.
Persons:
—, Jerome Powell, John Rekenthaler, Rekenthaler, Morningstar, James Bianco, Anna Moneymaker, Kevin Gordon, Charles Schwab, Gordon
Organizations:
Service, Federal Reserve Bank, Business, Morningstar, Fed, Bianco Research, Federal Reserve