May Inflation the Largest Increase Since 1992 — Inflation Expected to Reach 8% in 2021 Per Top Bank of America Strategist

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The Biden economy just got worse.  A top executive at Bank of America believes inflation will reach 8% this year.

We reported recently that Inflation was a major concern in the markets today:

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GET READY FOR A RIDE: Inflation Is a Major Concern Amongst Many Concerns in the Markets Today

Then we heard Treasury Secretary Yellen say inflation may be a good thing:

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Then we reported that inflation had hit:

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Inflation in Wholesale Prices Increases to 6.6% – The Largest Increase Since the Measurement Was First Compiled

This all was reported in June.

Then today US core inflation jumped to 3.9% in May, up 3.4% over the past 2 months.

 

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And also today a Bank of America report warns its readers about inflation:

A new Bank of America report predicts consumer prices will continue to soar for up to four years, as the Federal Reserve‘s preferred measure of inflation hits its highest level in three decades.

In a note on Friday, BofA’s top strategist Michael Hartnett predicted inflation will remain in the 2-4 percent range over the next two to four years.

U.S. inflation has averaged 3 percent in the past 100 years, 2 percent in the 2010s, and 1 percent in 2020, but will annualize at 8 percent in 2021, Bofa predicted in the note.

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Included are the FED’s reports on inflation.  One chart shows the drastic change in the economy for the worse once the Biden Administration started spending like drunken sailors. (Apologies to drunken sailors.)

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The Biden/Obama gang is at it again – working against the US and its people in an effort to destroy this once great country.

Source material can be found at this site.

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