Republic Risk: Trade Wars, Game Stop, and Hot Inflation
GREEN on the S&P 500 and GREEN on the Russell 2000
The Producer Price Index (PPI) came in way hotter than expected, raising the prospect of Zombie Inflation that leaves the Federal Reserve powerless to stop it. The PPI was up 0.5% for April, well above economists’ expectations of 0.3%. This implodes the narrative that the Federal Reserve will start cutting rates this summer. Here we go again.
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