Has inflation really peaked? Not so sure
We have been inside this green triangle since 1915.
The downtrend line has been tested a few times and this is the first year it actually went past it and recently came down for a retest.
Hard to feel like inflation has peaked also considering oil is still in an uptrend and the Fed couldn't have been more hawkish in the last Powell's speech, so we may be up for a rough surprise in tomorrow's CPI report. The Fib retracement points at a possible 12.50-13.00% inflation read, let's see what we get.
The downtrend line has been tested a few times and this is the first year it actually went past it and recently came down for a retest.
Hard to feel like inflation has peaked also considering oil is still in an uptrend and the Fed couldn't have been more hawkish in the last Powell's speech, so we may be up for a rough surprise in tomorrow's CPI report. The Fib retracement points at a possible 12.50-13.00% inflation read, let's see what we get.