JUST IN – United States producer price inflation jumps to 6.6% in May, the largest year-over-year increase in history.
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Kyle Bass: Actual Inflation Rate Is Around 12%
Bass noted that the Federal Reserve’s easy-money policy has added about 34% more money to the system in the last 14 months, a move that effectively cuts into the consumer’s buying power. “That means people that have money in the bank, in their savings, are losing, call it 5% to 12% of their purchasing power now annually,” he said.