🤔 feels a lil’ too much
worst we’ve seen in a while
the dow dipped almost 4% yesterday – this is the biggest drop seen since jun ‘20
only five stocks in the s&p 500 closed the day on a positive note
the i-word hit different this time
the labor department reported august consumer price index (cpi)
prices were up 8.3% YoY, above economists' expectations of 8.1%
core inflation (excludes food and energy costs) rose 6.3% YoY (annualized), up from 5.9% in july
the greater-than-expected rise in headline inflation is alarming, especially because of recently falling energy costs
this means we cannot solely blame rising energy prices for crazy inflation
it’s the same old story
fed’s been raising rates, but the anxiety sinks in – inflation’s rise is unstoppable, and fed will most likely have no choice but to raise rates more aggressively yet again
imo: although it’s the same story and reason over and over, the market’s anxiety is now starting to grow on a fundamental level
that is: is there nothing the fed can really do to solve inflation? the economy is undergoing serious hurt and damage as a sacrifice to these series of rate hikes, can we see a single signal that inflation will come down a lil’ bit?
i hate to be saying this, but we will see…
💡 something im thinking about
that's all, folks 🐒
as always, i’m no financial advisor! (i’m no substitute for professional financial services)
