I don't know about you, but when I come out of the grocery store after spending 30 bucks one of two things is happening:
- I am getting a lot stronger
- Or, the bags are a lot lighter.
There is a third alternative. The bags weight the same, and I spent 40 bucks.
I learned a long time ago that trends are slow to develop. It will take a while for inflation to gain some momentum on the upside. This means it takes some time for large rises in the monetary base and in the Fed's balance sheet to take effect.
The chart below is updated through March due to a data embargo. So you will have to use your imagination and add in April's three percent number.
The chart below is updated through March due to a data embargo. So you will have to use your imagination and add in April's three percent number.
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