More than 66 percent of Chinese imports have been subject to tariffs, with an average levy of 19.3 percent, adding significant costs to imported metals, solar panels, and other products.'
Damn Biden, now inflation is 7%… in the UK. https://www.cnbc.com/2022/04/13/uk-...-high-of-7percent-as-energy-prices-surge.html
Damn Biden.... simply giving a speech at the Capitol and taking office spiked prices all over Latin America.. In some of the largest economies in Latin America (Brazil, Chile, Colombia, Mexico and Peru), prices increased by 8.3 percent in 2021—the largest jump in 15 years and higher than in other emerging markets.
Home Depot founder predicts a recession will happen in less than 10 months I'm not smart enough to know exactly when," Ken Langone said. "My bet is that the brunt of the recession will hit us nine months, eight months. … 10 months from now." "We've got to get rates well above the inflation rate if you want to snap inflation, just like Paul Volcker did in 1980 and '81," Langone said on Tuesday. "Frankly, we have leadership today in America that isn't willing to admit when they're wrong," Langone said. "They made a terrible blunder here, and now the price has got to be paid. If you want to get inflation back, if you want a benchmark, you're going to probably need interest higher than 8.5%." https://www.audacy.com/wwl/news/national/home-depot-founder-says-a-recession-in-less-than-10-months
Agree with him, but for different reasons. I think the Fed doesn't do anything even close to what Volcker did, nor would they need to. Max inflation has already passed, and we are in the period of demand destruction beginning.