Hennion and Walsh's Mahn: Fed will have to reassess target inflation rate

Kevin Mahn, president and chief investment officer, Hennion and Walsh Asset Management, says that while the Federal Reserve has been trying to kill or diminish demand, it hasn't done a great job bringing inflation closer to its target level of 2 percent. As a result, Mahn thinks that the Fed and investors will have to live with inflation around the 3 percent level into 2024, and says that the Fed may ultimately have to accept that higher inflation is here to stay and strongly resistant to the traditional methods for curtailing inflation. Also on the show, Tom Lydon, vice chairman at VettaFi, makes the Consumer Staples Select Sector SPDR his pick for 'ETF of the Week,' noting that while the sector is defensive in nature, the fund has been on a roll that has pushed it to all-time high levels; and Joe Boskovich Sr., chief investment officer and portfolio manager at Old West Investment Management makes his debut in the Money Life Market Call talking value stocks and concentrated portfolios.