These mega rate hikes likely have Putin’s support because inflation can become a political bitch.
Wages are heating up. And it’s also now starting to show up in the data: The wage component in the fuel for persistent big inflation.
“Greatly concerned” that inflation “will not prove temporary.”
The Fed is going to have a heck of a time calling inflation expectations “well anchored.”
The bottom 50% need not apply. They just get to eat the soaring costs of housing. How the Fed totally blew out the already gigantic wealth disparity during the pandemic.
“Transitory” is the new Spandex.
“Debt Ceiling Farce 2021”: S&P threatens to downgrade the US by 20 notches to “D” if it defaults, which would be a hoot.
Blames tangled-up supply chains but not what’s causing supply chains to get tangled up: The most grotesquely overstimulated economy ever.
“Inflation could be a lot more persistent than we had hoped.”
The Fed is getting nervous about inflation. “Temporary” doesn’t cut it anymore. And the bond market is getting a whiff of it.