He said it’s still skimming. And unless the oil price is going to come down another $20 like it did earlier this year, which we know now isn’t going to happen, especially after the latest Israeli airstrikes on Iran. Although retailers like Walmart have already said, certainly there’s going to be some areas where you see prices go up on these items. Like double digits? Well, if you’ve got a 30% tariff on something, you’re likely going to see double digits. While shipping executives have warned about supply chain disruptions from the tariffs. If they don’t change course, you will see empty shelves later this summer.

And Jerome Powell’s even talking about raising the Fed’s 2% inflation mandate. Also, don’t forget that the chairman of Trump’s Council of Economic Advisers already wrote a 41-page hand guide to restructure the global trading system where he talked frequently about the overvalued dollar. So if you see Trump saying that there’s no inflation, there will be. [tr:trw].

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