And it has nothing to do with supply chains. Dear Fed, go have a look at the fruits of your labor.
Businesses are confident they can pass on higher prices, plus some, to consumers.
The Fed’s credibility shifted from Inflation Fighter under Volcker to Wealth Disparity Creator and Inflation Arsonist under Powell. And everyone knows it.
This doesn’t even include the spike in food and energy prices over the past few weeks. They’ll show up later.
Speculators are reacting to other speculators who are reacting to whatever.
A financial crisis in Russia just doesn’t have the same effect on the US as a financial crisis brewed up in the US has.
Personal Income and Spending under Red-Hot Inflation and Omicron.
The most reckless Fed ever is still just watching – and fueling – the consequences of 23 months of policy errors as the Inflation Monster gets bigger and bigger.
Will CPI inflation back off as used-vehicle prices unwind? Ha, here come the massive CPI measures for rent that are now soaring. Inflation Whac-A-Mole.
Two elephants in retail: A historic spike in prices of goods and seasonal adjustments as the Pandemic upended seasonality.