Bad Inflation Surprise Sends Stocks Down Sharply

Published Friday, June 10, 2022 at: 8:02 PM EDT

The inflation crisis of 2022 grew more fearsome with Friday’s release by the U.S. Bureau of Labor Statistics of a worse-than-expected consumer price index (CPI) report. For the 12 months through May 2022, CPI shot +8.6% higher, the highest rate since the inflation crisis of the late 1970s and early 1980s.  Higher gas prices are the main factor. Meanwhile, other threats to U.S. economic growth linger, including the war in Ukraine, supply chain bottlenecks, and Covid subvariants. The unusual turbulence shortens runway room for a soft-landing and increases the chance of a recession, but the Federal Reserve still has a chance...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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