by David Haggith
GoldSeek
If inflation screams and no one hears it, does an airplane fall in the forest? That’s a good question for today. Inflation ripped upward, and the stock market shrugged it off as if it heard nothing, while a good part of the media reported satisfactory results … but not everyone because some saw it as horrible. So, let’s start with the really bad news that almost everyone ignored and then end at the really mundane and predictable news that almost everyone on Wall Street focused on.
To start off with, a few mainstream stories did hit the bad news right up front. Yahoo! reported,
Fed’s Preferred Inflation Metric Increases by Most in a Year
One would think that’s not good news about inflation. First, let’s note the title tells us this is THE measure of inflation the Fed looks at most intently when setting monetary policy.