Biden and The Fed have a seemingly never ending problem for Americans: Inflation.
Today, the Final Demand Producer Price Index (PPI) printed at 9.7% YoY.
Biden claimed inflation was caused by COVID. How about 1) Biden’s anti-fossil fuel policies combined with 2) excessive fiscal (Biden and Congress) and excessive monetary stimulus (Fed)?
The Fed held its behind-closed-doors meeting on Monday, but nothing has been released about what they discussed. Suffice it to say, they have left the staggering monetary stimulus in play.
I wonder if The Fed is concerned about a soft landing with proposed rate increases.