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US inflation hits 7% and is now the highest in 40 years.
ABC NEWS

Glad that investors are comforted that it was not worse than feared.
For something that the FED insists is transitory, and is not only persisting, but keeps getting higher.
For the price makers, its great.
For the price takers, not so great.
Arguments over the level "transitoriness" of inflation are immaterial to the majority of Americans.
It still has a profound effect on their lives.
As I wrote some time ago, the effects of inflation remain forever, they don't go away.
The fried chicken that went from a buck to a buck10 will not go back to a buck if the inflation is transitory or not.
And they will remember come election time that although some of the causes of inflation were because of the policies of previous incumbent in the White House, pretty much all of the effects are under the watch of the existing incumbent.
Whether deserved or not, this will not play out well for democrats in the up coming mid terms, and unless somethings change pretty quickly in the near future, it may even cross into the 2024 presidential election.
Mick

<blockquote data-quote="mullokintyre" data-source="post: 1155082" data-attributes="member: 82018">US inflation&nbsp; hits 7% and is now the highest in 40 years.<a href="https://www.abc.net.au/news/2022-01-13/asx-us-inflation-40-year-high-stocks-wall-street/100753442" target="_blank">ABC NEWS</a>Glad that investors&nbsp; are comforted&nbsp; that it was not worse than feared.For something that the FED insists is transitory, and is not only persisting, but keeps getting higher.For the price makers, its great.For the price takers, not so great.Arguments over the level &quot;transitoriness&quot; of inflation are immaterial to the majority of&nbsp; Americans.It still has a profound effect on their lives.As I wrote some time ago, the effects of inflation remain forever, they don&#039;t go away.The fried chicken that went from a buck to a buck10&nbsp; will not go back to a buck if the inflation is transitory or not.And they will remember come election time that although some of the causes of inflation were because of the policies of previous incumbent&nbsp; in the White House, pretty much all of the effects are under the watch of the existing incumbent.Whether deserved or not, this will not play out well for democrats in the up coming mid terms,&nbsp; and unless somethings change pretty quickly in the near future, it may even cross into the&nbsp; 2024&nbsp; presidential election.Mick</blockquote>

[QUOTE="mullokintyre, post: 1155082, member: 82018"] US inflation hits 7% and is now the highest in 40 years. [URL='https://www.abc.net.au/news/2022-01-13/asx-us-inflation-40-year-high-stocks-wall-street/100753442']ABC NEWS[/URL] Glad that investors are comforted that it was not worse than feared. For something that the FED insists is transitory, and is not only persisting, but keeps getting higher. For the price makers, its great. For the price takers, not so great. Arguments over the level "transitoriness" of inflation are immaterial to the majority of Americans. It still has a profound effect on their lives. As I wrote some time ago, the effects of inflation remain forever, they don't go away. The fried chicken that went from a buck to a buck10 will not go back to a buck if the inflation is transitory or not. And they will remember come election time that although some of the causes of inflation were because of the policies of previous incumbent in the White House, pretty much all of the effects are under the watch of the existing incumbent. Whether deserved or not, this will not play out well for democrats in the up coming mid terms, and unless somethings change pretty quickly in the near future, it may even cross into the 2024 presidential election. Mick [/QUOTE]

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