A year ago, Federal Reserve Chairman Jerome Powell said rising inflation was temporary. He told us not to worry. He wasn't even convinced that inflation would sustain a rate of more than 2%. I didn't believe him... I predicted that we would see a steady string of headline inflation numbers that would be much, much higher than anything we had seen in a long time. Regrettably, I was correct. Inflation has not only hit and surpassed 2% but also reached a sustained level that is multiples of 2%. The 8.58% year-over-year increase in the consumer price index (CPI) that was posted in May was the highest reading we have had since 1981. But the reality is that May's 8.58% reading is significantly understating how bad inflation really is. The CPI isn't reflecting it yet, but we already have double-digit inflation in the United States. Join me today to see why rising inflation is far from over... |
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