Inflation, the bane of the middle class and working families, just rose to 8.6%.
Core inflation, that excludes energy and food, actually declined slightly to 6% from 6.2% in April. But since most families are concerned with gas prices and food, (not to mention home prices growing at 21.17% YoY), core inflation really underestimates the suffering.
The Fed is expecting two half-point hikes followed by quarter-point increases.
And mortgage rates keep rising as The Fed fights the inflation fire.
On the hotter than expected inflation news, the US Treasury 10Y-2Y curve flattened to 12 bps.
This post was created with our nice and easy submission form. Create your post!