Feelin’ Hot, Hot, Hot! US Inflation Soars To 8.6% YoY For May, Fed Expected To REALLY Start Jacking-up Rates (Mortgage Rates Rise To 5.58%, The Highest Since 2009)

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Feelin’ hot, hot, hot!

Inflation, the bane of the middle class and working families, just rose to 8.6%.

Core inflation, that excludes energy and food, actually declined slightly to 6% from 6.2% in April. But since most families are concerned with gas prices and food, (not to mention home prices growing at 21.17% YoY), core inflation really underestimates the suffering.

Under Biden’s leadership in cooperation with eternal Fed stimulus (until now), inflation started at 1.4% YoY and has increased to 8.6% YoY. The Fed’s balance sheet has increased by 20.27% (more monetary Stimulypto!), Case-Shiller home prices started at 10.44% YoY and has now doubled to 20.55% YoY. Regular gasoline started at $2.57 and is now at $5.42, up 102%. Food is up 61%.

The Fed is expecting two half-point hikes followed by quarter-point increases.

And mortgage rates keep rising as The Fed fights the inflation fire.

Here is a video of Milton Friedman speaking on inflation.

On the hotter than expected inflation news, the US Treasury 10Y-2Y curve flattened to 12 bps.

Tower of … inflation?

Published by confoundedinterest17

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One thought on “Feelin’ Hot, Hot, Hot! US Inflation Soars To 8.6% YoY For May, Fed Expected To REALLY Start Jacking-up Rates (Mortgage Rates Rise To 5.58%, The Highest Since 2009)”

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