Pivotal Week in US Economy
Tomorrow June 13, 2023, consumer price index numbers will released for May. Currently, CPI is 4.9%, and the forecast for tomorrow is 4.3% and consensus is 4.1%.
Although CPI under represents true inflation, the number tomorrow will direct the Federal Reserve on whether or not to decrease interest rates, pause, or increase rates. The majority market consensus is a rate pause.
However, if the Federal Reserve wants the slow the economy even more and potentially cause a recession, it will increase rates.
Regardless, inflation remains sticky, persistent, and over the next two years over $4 trillion will added to the US national debt (causing more inflation). Something has to give.
The Ukraine Proxy continues to bleed the West financially as the Russian Federation grinds up Ukrainian military and its Western arms, and sanctions boomerang on Western economies. Yet, the unipolar globalists in West continue to double down on their reckless, idiotic foreign policy.
The Ukraine Proxy is all about maintaining the Unipolar rules-based World Order and it's global tyranny.
Stephen.Garvey@EmergingGlobalRealities.com