Inflation Isn't Just a Trumpflation Problem Any Longer -- There's a New Culprit, and It Has Potentially Dire Implications for Wall Street
The stock market's No. 1 catalyst has quickly transformed into an inflationary menace.
Overview
Since early June, we've watched the time-tested Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and technology-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) catapult to record highs. However, Wall Street's major stock indexes may not be telling the complete story.
Though there are always headwinds threatening to upend the stock market, arguably none has been more profound this year than inflation. Rapidly rising prices, driven by President Donald Trump's policies, are making life challenging for the new Fed Chair, Kevin Warsh, and the Federal Open Market Committee (FOMC) -- the 12-person body responsible for setting the nation's monetary policy.
Details
But this challenge just became more complex. There's a new culprit that's driving up U.S. inflation, and it has potentially dire implications for Wall Street.
Source
Originally published at www.fool.com.