The US Fed is firing on all cylinders as its campaign to tame inflation appears to be succeeding. Inflation, as measured by the Consumer Price Index, came in at five percent in March on an annual basis, down from six percent in February after peaking at nine percent. It's the smallest 12-month increase since May 2021, and comes as the Fed has raised interest rates at the most aggressive pace in decades. "I think inflation will be dead a year from now," says DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP. "I think inflation is going to come down rapidly." BOVE offers an analysis on the latest CPI data and explains the signs he sees of cooling inflation.

Still, there could be pain. BOVE sees evidence of rising joblessness and unemployment ahead, and does not discount the possibility of a hard landing for the US economy. Meanwhile, the specter of inflation has punished the purchasing power of American consumers. MAT VAN ALSTYNE, ODEON co-founder and managing partner, says the Fed has one good shot to stamp out this same inflation. For that reason, he expects the central bank to keep raising rates unless and until "something truly breaks" in the US economy. The CONVERSATION also looks at the so-called 'blowout' earnings numbers reported by US banks. BOVE, a veteran bank analyst, digs deep to offer us the reality behind the latest numbers. Elsewhere, we look at geopolitical tensions with the war in Ukraine. and nations acting out of step with the US. Our host, JOHN AIDAN BYRNE, strikes up a CONVERSATION on the Group of 7 nations pushing to diminish their economic dependence on China.

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