“This Is Not Transitory”: Hyperinflation Fears Are Soaring Across America
- “This Is Not Transitory”: Hyperinflation Fears Are Soaring Across America
by Tyler Durden, https://www.zerohedge.com/
There was some good news for the (transitorily hyper–)inflation-ravaged US economy today when copper, wheat and lumber futures all fell after days of surging – in the case of the latter, the first drop in 13 days… … pushing the Bloomberg commodity index lower after six straight days of gains.
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Yet while today’s boiling-off in commodities may have been a faint validation of the Fed’s claim that this inflation is “transitory”, inflation pressures are unmistakably building, with Bloomberg’s Vince Cignarella noting that the five-year/five-year inflation swap is above 2.5% and rising: “that’s the highest since January 2018 and just 10 basis points below levels we saw in January 2017.”
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