Between this and the jumping inflation rate today to 4.2%, which is the highest it’s been since 2023, the economy is not looking good. The market looks fantastic, but the market is not the economy.
American consumers are now facing 7% mortgage rates, 4.2% inflation, and a 30% loss in the purchasing power of the US Dollar since 2020.
Meanwhile, US CPI inflation continues to follow a similar trajectory as the late 1970s.
Will history repeat itself?