Before buying into bullsh*t Wall Street narratives like the “war on inflation” is over, consider the source. While CPI has come down from its sky-high peak, additional declines from here will be more challenging.
“Everyone who’s telling you now that inflation has been killed said in 1Q 2021 (when CPI was 1.9%) that inflation’s transitory,” explains Keith McCullough in this clip from The Macro Show. “Then it went up, up, up (to 8.63% in 2Q 2022). Then after it goes down toward 3, now you’ve got to say it will continue down to 0.”
McCullough adds: “In what world should we trust these people that it’s not going to go back up from here?”
Watch the full clip above.
