Archives for December 2021

Jerome Powell suggests it’s time to stop describing inflation as ‘transitory’ So now we know...Inflation isn’t going anywhere — but prices certainly are. The latest Consumer Price Index for October recorded a 6.2 percent increase.  It's the largest increase in over 30 years and far outpaced economists’ expectations of a 5.9 percent spike. October's data represents months of faster rising prices, compared to levels the U.S. economy has seen in years.  Consumers are starting to notice the increasing bite that rising food prices are starting to take out of their monthly budgets. Nearly 60 percent said that grocery stores were where they saw the most dramatic price increases. According to an October survey of US consumers by Bank of America … [Read more...]