Market expectations for rate hike haunt Warsh and GOP
The Washington Examiner cites Senior Economist Ryan Young on the consumer price index:
Additionally, the producer price index showed wholesale inflation shot up to a blistering 6%, the biggest increase since 2022. It increased an astonishing 1.4% in April alone.
“That’s a ‘holy cow’ reading,” Ryan Young, senior economist at the Competitive Enterprise Institute, told the Washington Examiner. “And as that works its way through supply chains up from the wholesaler level, and then on to retail and consumers, that’s a sign that the next few CPI readings are likely to continue being high.”