All the last several weeks we are continuously getting more and more hints that inflation is coming back. As far as today, producer price index came well above expectations.
Intermediate matherials core is +0.2%, but PPI core is +0.4%. Very unwelcome development.
If you didn’t kiss those “Cramer rate cuts” goodbye yet now is the last time to do that. The Feds will rather make us go to recession then destroy the dollar franchise.
Oh, and destroying the dollar franchise will not save us from recession anyway.