The latest US consumer inflation data came in "hotter than expected" with the core CPI rising at its fastest rate in forty years. This means that, so far and in present data, all of The Fed's rate hikes have had zero impact.
But they're having impact. You can bet your arse on that! It's just that you're not fully seeing it yet. The economy is crashing and inflation, though still raging, will begin to slow in early 2023. However, the backward-looking Fed is about to drive everything straight off the road and into the ditch by persisting and accelerating their rate hikes. What a...
