November 15, 2021
Markets

It’s time for crude oil

Review and Preview

Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy. The consumer price index, which represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, rose 5% from a year earlier. Economists surveyed by Dow Jones had been expecting a gain of 4.7%. The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the financial crisis sent the U.S. spiraling into the worst recession since the Great Depression. – Jeff Cox, “Consumer Prices Jump 5% in May, Fastest Pace Since the Summer of 2008,” www.cnbc.com, June 10, 2021.

The Fed announced a new policy doctrine almost a year ago (that) it would no longer consider lags when making monetary policy, forsaking the policy of…

Read full article here: www.fxstreet.com