By Richard Russell
Janet Yellen and the Fed are anxious to normalize interest rates. After all, the Fed has run up its money pot of bonds and real estate mortgages to the incredible level of $4.4 trillion. The Fed has been injecting liquidity in an effort to jumpstart the economy, but alas, for the Fed, the retail public has turned to saving and paying off debt. At some point (probably soon) the public will see that the US economy has turned into a whirlpool of inflation.
The inflationary machine is moving from low gear to medium gear. This is happening as wages, under pressure from workers, are heading up. Walmart, the nation’s biggest employer, and Target, have pushed up minimum wages. McDonalds is following suit, and the upward pressure from wages is causing prices to increase across the board. Insurance premiums are higher, school tuition is higher, medical and insurance costs are higher, and inflation is ... Log in or subscribe to continue reading.