Increasing Inflation
12/13/2021 |
November CPI inflation came in at 6.8%, the highest reading since 6/82, core CPI came in 4.9% its highest since 5/91. Why? The combination of profound consumer demand and simultaneous massive supply-chain problems preventing supply from increasing. The last time this might have happened, immediately post-WWII. Add unemployment at just 4.2% and 21Q4 GDP expected to be above 6%, and faster Fed tapering makes sense. This economy needs to cool.