July 12, 2022 - 10:51 AM 272 views
Karine Jean-Pierre, the press secretary for the White House,
informed reporters that she anticipates the latest Consumer Price Index (CPI)
figures to be significantly inflated.
Her remarks worsen the inflation situation ahead of
Wednesday's US CPI announcement for June, which is anticipated to rise from 8.6
percent YoY to 8.8 percent.
According to the NY Fed's survey of consumer inflation
predictions for the coming year, US inflation expectations increased to a new
high of 6.8 percent in June from 6.6 percent the month before.
In a similar vein, Raphael Bostic, president of the Atlanta
Fed, told Reuters that recent inflation numbers have not been as positive as I
would have hoped.
The Forex Market(FX)
Because of its attraction as a safe haven, the US dollar is
strengthened by inflation fears and drowns out commodities and Australian