FED Chairman Jerome Powell said that inflation will continue to stick around while Dollar Tree proves him right.
Today FED Chairman Jerome Powell shared that inflation will stick around longer than expected:
Federal Reserve Chair Jerome Powell says inflation is likely to remain high in the coming months, spelling more bad news for President Biden.
Powell made the prediction during a Senate Banking Affairs Committee hearing on Tuesday, where he blamed the reopening of the economy for the increased price of goods and services.
‘Inflation is elevated and will likely remain so in coming months before moderating,’ he warned.
The rest of the country was onto inflation a long time ago. All you have to do is go out to eat anywhere. Now Dollar Tree has to increase their items to above $1.00.
*DOLLAR TREE TO ADD PRODUCTS ABOVE $1 IN DOLLAR TREE PLUS STORES
“Transitory 2 dollar tree” stores
— zerohedge (@zerohedge) September 28, 2021
At the same time, house prices are increasing at record rates. Bloomberg reports:
U.S. home prices surged 19.7% in July, once again posting the biggest jump in more than 30 years.
The record gain in the S&P CoreLogic Case-Shiller index of property values nationwide followed a 18.7% jump in June and was the 14th straight month of accelerating price increases.