Fed Chair Kevin Warsh Just Drove a Dagger Through Wall Street's Heart With This Telling 15-Word Statement on Inflation
Warsh's hardline stance on inflation is a wake-up call for the second-priciest stock market in history.
Overview
Although earnings season typically garners all the glory on Wall Street, monthly inflation reports have been outshining corporate earnings in recent months. In May, U.S. trailing 12-month (TTM) inflation jumped to a three-year high of 4.2%.
Despite this rapid jump in inflation, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and technology-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) have all recently catapulted to all-time highs. But sweeping inflationary concerns under the rug can be a potentially dangerous maneuver for Wall Street and investors.
Fed Chair Kevin Warsh delivering remarks. Image source: Official Federal Reserve Photo.
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Originally published at www.fool.com.