Inflation rose 9.1% in June, even more than expected
Meanwhile, Gold takes a dump, falling 1%:<p><a href="https:&#x2F;&#x2F;www.tradingview.com&#x2F;chart&#x2F;?symbol=NASDAQ:TSLA" rel="nofollow">https:&#x2F;&#x2F;www.tradingview.com&#x2F;chart&#x2F;?symbol=NASDAQ:TSLA</a><p>Remember how gold was going to protect you from hyperinflation?<p>Something nasty is brewing in the economy. It will be obvious when it hits but until then it will be confusing as hell.<p>The bond and eurodollar markets have been signally for about a year now that the nasty thing will be a recession that will force the Fed back into accommodative mode as early as this year.<p>The funny thing is that both can be true. Inflation can soar and the economy can crater. The Fed can be accommodative while inflation runs hot. It has happened before. If it happened again, it&#x27;s hard to imagine a scenario that would cause greater confusion.<p>&gt; On a monthly basis, headline CPI rose 1.3% and core CPI was up 0.7%, compared to respective estimates of 1.1% and 0.5%.<p>Here&#x27;s the number to pay attention to. CPI increases are <i>accelerating</i>. Have a gander at this chart:<p><a href="https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;CPIAUCSL" rel="nofollow">https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;CPIAUCSL</a><p>Also notice how that chart only goes in one direction - up and to the right. There are very brief periods in which it reverses, only to return to trend with a vengeance.