Inflation jumped to the fastest increase in a decade.
Business Insider just reported on the much higher than expected US Inflation rate:
The Consumer Price Index jumped 0.8% last month, the Bureau of Labor Statistics said Wednesday morning. The median estimate from economists surveyed by Bloomberg was for a 0.2% month-over-month gain. The reading follows a 0.6% jump in the CPI from February to March.
Core inflation – which leaves out volatile energy and food prices – rose 0.9%.
Prices climbed 4.2% year-over-year, marking the strongest inflation since September 2008. Economists expected a year-over-year reading of 3.6%.
BREAKING: Inflation surges in April as consumer prices leap 4.2%, fastest since 2008 https://t.co/maV7vPrFAz
— Jack Posobiec (@JackPosobiec) May 12, 2021
Maria Bartiromo had one of the best economists in the world, Steve Moore, on her show this morning. Maria started by saying:
Maria: What we’ve been saying all over this morning is, bad policy equals bad outcomes, Steve, and we see inflation rearing its head…
Steve: …I’m only surprised that Wall Street is surprised by this. And I’m surprised that the FED has been surprised by this. …It goes back to economics 100, Maria. Inflation is too many dollars chasing too few goods, right, and that’s precisely what we have right now…
Watch the entire interview below:
The average investor is now wondering what to do. Investing in the markets, at all-time highs, could be catastrophic with Obama/Biden running the economy now. Money markets are dangerous with inflation on the rise and no real tools to stop it. Obama/Biden and their Democrat/communist friends in government are spending money as if it grows on trees, adding to inflation. Cryptocurrencies are still speculative to many. Real estate could crash with a market collapse.