Inflation is literally burning a hole though the pockets of Americans. The Flexible Price CPI is raging at 18% YoY. The Dallas Fed has their preferred measure of inflation, the trimmed mean CPI, is growing at only 3.05% YoY. The classic measure of inflation, CPI YoY, is growing at 7.12%.
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See also Memorial Day barbecue 'essentials' have JUMPED 28% since last year. Even long weekends getting squeezed by inflation.
That is of course if you can find things to buy at the grocery store.
See also Powell's job just got harder. Have inflation expectations really unanchored or Plunging CPI is just on the horizon? #HelpTheFed
I remember when Fleetwood Mac played at Bill Clinton’s first inauguration party. Perhaps Fleetwood Mac can play at the midterm election party commemorating the rampant inflation under Biden’s “leadership”: Bare Shelves.