by Peter Schiff, Schiff Gold:
With CPI data once again coming in hotter than expected, it’s getting harder and harder for the mainstream to swallow the “transitory inflation” narrative.
And some people are starting to worry.
During an earnings call, JPMorgan Chase CEO Jamie Dimon expressed concerns about higher than expected and persistent inflation ahead.
Dimon told analysts and investors that year-over-year inflationary readings under 4% are “unlikely” over the next six months.
We prepare for probabilities and eventualities. And one of those probabilities is that [inflation] might go higher than people think.”
In fact, the yearly reading has been above 5% for five straight months, and if you annualized the inflation rate through the first three quarters, you come out with a 6% inflation rate.