This Week's State Of The Economy - What Is Ahead? - 10 June 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Jun 13, 2022

This Week's State Of The Economy - What Is Ahead? - 10 June 2022

CPI increases continue to sizzle like this weekend’s temperature, putting consumers in a worse mood than Texas Rangers fans (with their 9.5 games back $500 million middle infield).  In case you’ve been in a news blackout, the Labor Department reported this morning that year-over-year consumer prices rose 8.6% in May, the biggest monthly jump since December, 1981 and breaking the previous “biggest jump since 1981” set in…..April.  It’s fair to say that the Feds previously telegraphed 0.50% rate increases next week and again in July remain on track.  To the extent that inflation is a global issue, it’s worth noting that the European Central Bank has also jumped on the rate increase bandwagon with guidance to expect a 0.25% rate increase in July followed by a series of larger increases.




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