NEW YORK – We were inflation bears before inflation was cool (“Inflation Isn’t Coming – It’s Already Here,” April 19). A month ago, the comedy team of Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen still had the public hypnotized by the idea that inflation hadn’t yet bumped up against the Fed’s 2% target.
Now we don’t know about anything but inflation, and Bank of America is talking about “transitory hyper-inflation.” For example:
- Mentions of inflation have soared in corporate reporting, and this is “pointing to at the very least, ‘transitory’ hyper-inflation ahead. Higher mentions of pricing, coupled with a record net margin, suggest inflation so far has been positive for corporate earnings,” Bank of America strategists reported last week.