At Jackson Hole, Powell assured us that a “narrow group of foods and services” were responsible for the “spike of inflation”. Yet, in the latest Kansas City Fed survey, EVERY i.e. 100% of the respondents said their raw material prices were higher than a year ago!

At Jackson Hole, Powell assured us that a “narrow group of foods and services” were responsible for the “spike of inflation”. Yet, in the latest Kansas City Fed survey, EVERY i.e. 100% of the respondents said their raw material prices were higher than a year ago! pic.twitter.com/makMDOsGkA

— Julian Brigden (@JulianMI2) September 26, 2021