Re: Fwd: 1970’s redux and where do we go from here?
Seth Ackerman wrote:
But it’s only being driven by oil this time. Core inflation isn’t particularly high. Inflation isn’t built into the structure of wages and prices like it used to be.
No it’s not. But Wall St is getting a little carried away looking only at the core (which excludes food & energy); that strips away almost a quarter of the index’s market basket. The headline CPI is at 3.4% year-on-year, which is well above the 1-2% that used to be regarded as price stability.
Doug