US CPI inflation 7%. Highest in 40 years! Real earnings down by 2.4%. The Fed is still running an extremely aggressive monetary policy.

BREAKING: U.S. inflation hits 7%, highest in 40 years pic.twitter.com/oumNsoCsca

— Javier Blas (@JavierBlas) January 12, 2022

https://twitter.com/NorthmanTrader/status/1481264500519194627

#Fed Balance Sheet @ $9 trillion

UNSUSTAINABLE !!!! pic.twitter.com/kf9znIB9b3

— MrTopStep (@MrTopStep) January 12, 2022

Inflation is running at 7% and the Fed is still running an extremely aggressive monetary policy. The Fed is talking the talk but not walking the walk, at least not yet.

— Michael Lebowitz, CFA (@michaellebowitz) January 12, 2022

https://twitter.com/DiMartinoBooth/status/1481260119874752513

U.S. interest rate futures imply at least three fed rate hikes for 2022 after december CPI data.

— unusual_whales (@unusual_whales) January 12, 2022

Price increases over last year (CPI report)…
Gasoline: +49.6%
Used Cars: +37.3%
Gas Utilities: +24.1%
Meats/Fish/Eggs: +12.5%
New Cars: +11.8%
Overall CPI: +7%
Food at home: +6.5%
Electricity: +6.3%
Food away from home: +6.0%
Apparel: +5.8%
Transportation: +4.2%
Shelter: +4.1%

— Charlie Bilello (@charliebilello) January 12, 2022

Real wages (after inflation), near multi-decade lows. Think middle-class families.

cc @Austan_Goolsbee @jasonfurman @carlquintanilla pic.twitter.com/DcNiffmQAq

— Lawrence McDonald (@Convertbond) January 12, 2022

https://twitter.com/PriapusIQ/status/1481258062199599105

https://twitter.com/TeddyVallee/status/1481260191119200260

Sub-components that represent 89.8% of the total CPI are rising faster than the Fed's 2% target: {ECAN<Go>} pic.twitter.com/sqhhMxD5ZM

— Michael McDonough (@M_McDonough) January 12, 2022

U.S. inflation rose 7% last year. Core consumer prices, which exclude volatile food and energy categories, increased 5.5%.

Used car prices continued to rise in December. They were up 37% last year. New car prices rose nearly 12%. https://t.co/k0ByXHqOkU

— Nick Timiraos (@NickTimiraos) January 12, 2022

Hall of Fame Quotes

“Inflation is transitory”

Jake Powell, June 2021

“Subprime is contained”

Ben Bernanke, Feb 2007

“I will hurt the shorts, and that is my goal."

Dick Fuld, April 2008

— Lawrence McDonald (@Convertbond) August 14, 2021

https://twitter.com/NorthmanTrader/status/1481257966737235969