Side with the inflationistas

Wall Street has a new worry, says Joe Weisenthal on Businessinsider.com: “inflation is finally happening”, yet America's Federal Reserve can’t see it – and so could end up having to raise interest rates earlier and further than expected. That could cause severe turbulence for stocks and bonds.

Data for May showed that the annual rate of core consumer price inflation (CPI), which excludes volatile food and energy prices, posted its biggest jump in five years, hitting a 15-month high of 2%. The Fed dismissed the CPI data as “noisy”, or misleading.

But it looks as though Fed chair Janet [...]

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