Soaring CPI Crushes ‘Peak Inflation’ Narrative, Sparks Global Market Turmoil


There have only been 2 months in the last two years where CPI has printed less than expected and CPI has risen for 14 straight months (Biden has been president for the last 16). Additionally, sentiment among Americans collapsed to a record low (UMICH) and inflation expectations surged (signaling Fed credibility is plunging), all of which sent the US Macro Surprise index down to its weakest since Aug 2019…

“For the LORD your God will bless you just as He promised you; you shall lend to many nations, but you shall not borrow; you shall reign over many nations, but they shall not reign over you.” Deut. 15:6

First things first, STIRs exploded with year-end rate-hike expectations soaring by 30bps today alone! And at the same time, the subsequent rate-cut expectations have soared (as The Fed desperately digs America out of recession)…

The market is now pricing in 10 more rate-hikes by the end of 2022 and then 3 rate-cuts following it.

Read More @ Zero Hedge HERE