Fed and ECB still behind the inflation curve.
Central banks risk a pile-up of monetary policy tightening as inflation expectations become more embedded.
By @elerianm https://t.co/5ra5cAm2hR— Nouriel Roubini (@Nouriel) February 7, 2022
"Negative interest rates are hugely unpopular…Some ECB policy makers may feel that high inflation, even if deemed temporary in nature, provides a perfect excuse to exit from an increasingly unpopular instrument:" Pimco's Joachim Fels on one explanation for the ECB's tone shift
— Lisa Abramowicz (@lisaabramowicz1) February 7, 2022
Why is consumer confidence so low?
United States real wages: pic.twitter.com/BS1jQRNYam
— Daniel Lacalle (@dlacalle_IA) February 7, 2022
Inflation data coming Thursday. pic.twitter.com/LIQnSJOrxk
— Chris Ciovacco (@CiovaccoCapital) February 7, 2022
Tyson Foods Soars To Record After Hiking Beef, Chicken And Pork Prices By Double Digits
.. after the company reported blowout earnings (thanks to passing on surging food prices) and announced that it is raising prices even more as it grapples with a tight labor market and smaller livestock herds. According to the report, beef prices jumped by 32% in the quarter, with chicken up ~20% and pork 13%.
This helped Tyson’s operating margin grow to 11.3%, up from 6.7%, a year earlier. The higher meat prices has, however, had the Biden administration scrambling as profits continue to mount at meatpackers, while runaway inflation continues to crush Biden’s collapsing approval rating.