Consumer Inflation Expectations Soar To A Mindblowing 6.6%
Apr 11, 2022 14:37:46 GMT -5
Post by schwartzie on Apr 11, 2022 14:37:46 GMT -5
Fed Losing Control As Gloom Spreads, Consumer Inflation Expectations Soar To A Mindblowing 6.6%
BY TYLER DURDEN
MONDAY, APR 11, 2022 - 02:00 PM
Last September, when the Fed was still busying lying to the people that soaring inflation would prove to be "transitory" (today even the Fed is humiliated and embarrassed by the historic amounts of bullshit it was shoveling last summer and is willing to risk a market crash just to contain the same inflation it failed to notice less than a year ago), we warned that the "Fed Was On Verge Of Losing Control As Consumers Expect Inflation To Soar", an article which was based on the NY Fed's own monthly survey of Consumer Expectations, and in which we warned that the Fed's biggest nightmare was about to come true: with prices relentlessly soaring, the central bank was on the verge of losing control over near-term inflation expectations.
Unfortunately more than half a year later, things are just going from back to worse for the Fed, because in its latest Consumer Expectations survey, the central bank found that inflation expectations at the one-year horizon soared to a new all time high of 6.58% in March from the previous month’s 6.00%, a new series high and the third biggest one-month spike on record.
Continued at link
BY TYLER DURDEN
MONDAY, APR 11, 2022 - 02:00 PM
Last September, when the Fed was still busying lying to the people that soaring inflation would prove to be "transitory" (today even the Fed is humiliated and embarrassed by the historic amounts of bullshit it was shoveling last summer and is willing to risk a market crash just to contain the same inflation it failed to notice less than a year ago), we warned that the "Fed Was On Verge Of Losing Control As Consumers Expect Inflation To Soar", an article which was based on the NY Fed's own monthly survey of Consumer Expectations, and in which we warned that the Fed's biggest nightmare was about to come true: with prices relentlessly soaring, the central bank was on the verge of losing control over near-term inflation expectations.
Unfortunately more than half a year later, things are just going from back to worse for the Fed, because in its latest Consumer Expectations survey, the central bank found that inflation expectations at the one-year horizon soared to a new all time high of 6.58% in March from the previous month’s 6.00%, a new series high and the third biggest one-month spike on record.
Continued at link
