(Recorded on 07/27/21) Topics covered on this video coaching call In this special video training, trading coach Jerry Robinson provides his latest update on cryptocurrencies in his long-term portfolio. Included in this video: – Rumors that Amazon will accept...
Editor's Note: Today's rise in the CPI numbers are the inevitable outcome of the Federal Reserve's "easy money" policies. Rising consumer prices are still in the warm-up phase. We expect inflationary pressures to continue to threaten the U.S. economy with full blown hyperinflation remaining a "real and imminent" threat over the next 12-18 months.
MoneyNews.com – The cost of living in the U.S. rose more than forecast in May reflecting higher prices for everything from autos to hotel rooms, signaling raw-material expenses are filtering through to other goods and services.
The consumer-price index increased 0.2 percent, compared with the 0.1 percent median forecast of economists surveyed by Bloomberg News, figures from the Labor Department showed today in Washington. The so-called core measure, which excludes more volatile food and energy costs, climbed 0.3 percent, the biggest increase since July 2008.
Higher input prices are leading companies like McDonald’s Corp. (MCD) and Abercrombie & Fitch Co. (ANF) to try to pass cost increases onto customers strained by more expensive gasoline and 9.1 percent unemployment. At the same time, Federal Reserve Chairman Ben S. Bernanke’s has repeated that the jump in commodity expenses will prove temporary.
“We’re seeing a broad-based bleed through of energy and commodity price pressures into components throughout the core,” said John Herrmann, a senior fixed-income strategist at State Street Global Markets in Boston who correctly forecast the gain in core inflation. “The Fed has to be more adamant about their credibility as an inflation fighter.”