The World Has Gone Mad…. Thanks To The Fed!

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Inflation Hits Record High in Kansas City Fed Manufacturing Index

Inflationary pressures on goods manufactured in central U.S. rose to a record level in August, according to a survey from the Federal Reserve Bank of Kansas City released Thursday.

The Kansas City Fed’s index for prices received jumped to a seasonally adjusted 61 from July’s 52, the previous record high. Fifty-nine percent of manufacturers surveyed said they were increasing prices, 42 percent said they had not changed their prices in the month, and none reported lower prices.

The prices paid index jumped to 80, up from 78 in July. This was the second-highest reading recorded after May’s 86. Eighty-two percent of manufacturers reported paying higher prices for materials, 16 percent reported no change, and two percent reported lower prices.

Fed is stoking another real estate price bubble that will wipe out home equity, investor Peter Boockvar warns

Investor Peter Boockvar is sounding the alarm on a housing price bubble brought on by the Federal Reserve’s Covid pandemic policies.

He warns first-time homebuyers are most vulnerable to dramatic losses.

“I feel bad for the people who bought homes over the past year because they’re the ones that paid the very elevated prices,” the chief investment officer at Bleakley Advisory Group told CNBC’s “Trading Nation” on Thursday.

He singles out those who put down 5% amid historically low mortgage rates. If home prices correct by 10%, Boockvar sees a world of pain.

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