Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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What’s perverse about the Old Wall begging for their Fed to stop raising rates is that it’s driving Inflation’s Re-Acceleration higher. Oil (WTI) inflated +7.7% last week alone to +22.6% in the last 3 months. So I see their Late Cycle Labor Talking Points (“Fed, please stop!”), and I raise YOUR prices at the pump! Oh, you don’t think Wall Street and/or Fed Policy Expectations had anything to do with the real-world inflation re-accelerating? How else do I get paid Long Oil, Gasoline (UGA), Energy Stocks, etc.? |
