With today’s CPI release (focus on the Core CPI number of 5.3%, not the headline number which benefits from the drop in oil prices), I figured it’s a good time to promote my book: Stagflation Is Imminent.
We are living in a negative Real GDP, negative real interest rate (yes, rates remain negative), high debt, high inflation environment. This is a Stagflationary environment, so pretend the title of my book reads Stagflation Is Here (I wrote the book back in April 2021). The book is heavy with charts, numbers and explanation.
What’s next? The Fed will ease policy by 2024 as next year is an election year. Perhaps QE will be in full swing by then as well (I hope not). Do not put much credence in Wednesday’s FOMC Summary of Economic Projections as the Fed’s projections are rarely predictive.