BREAKING: U.S. inflation hits 7%, highest in 40 years pic.twitter.com/oumNsoCsca
— Javier Blas (@JavierBlas) January 12, 2022
Never forget: Those price increases are not coming back down, you're stuck with them. Powell already told you so.
July 2021: pic.twitter.com/0eSnxyujq0
— Sven Henrich (@NorthmanTrader) January 12, 2022
#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
Ladies & Gentlemen!
I give you 7% headline, briskest since 1982 (up 0.5% v est 0.4%) & 5.5% at the core (up 0.6% v 0.5% est)
OER up 0.4%, which we know is broken metric.
Real earnings down by 2.4%
Usurpers to Progressive Incumbents: “PLAY BALL!”
Hawks to Doves: “March 17th!”
— Danielle DiMartino Booth (@DiMartinoBooth) January 12, 2022
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
🇺🇸 Now, as usual, over to @M_McDonough for the awesome CPI breakdown grahicst.co/pZiIJrlU2T
— PiQ (@PriapusIQ) January 12, 2022
Of the 250+ CPI subcomponents, 51.5% of them are growing greater than 5%.
— Teddy Vallee (@TeddyVallee) January 12, 2022
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%. 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
Jay Powell: We work for all Americans.
CPI: 7%
Rates zero
QE running pic.twitter.com/moS4QGObpc— Sven Henrich (@NorthmanTrader) January 12, 2022