US inflation still climbing / stubbornly high, depending on...

US inflation still climbing / stubbornly high, depending on which inflation reading one chooses to follow.

Just reread an article from two years ago.

"Powell set to deliver ‘profoundly consequential’ speech, changing how the Fed views inflation"

https://www.cnbc.com/2020/08/24/powell-set-to-deliver-profoundly-consequential-speech-changing-how-the-fed-views-inflation.html

Pretty hilarious to read now.

"The effort will be the reverse of former Fed Chairman Paul Volcker’s rate hikes instituted to quash inflation in the 1980s."

Damn right it is. LOL.

Paul Volcker died two years too early. He will be turning in is grave right now, watching this mess unfold.