Oil Is Below $70, but the Federal Reserve's June Inflation Forecast Has an Unpleasant Surprise in Store for Wall Street
Plunging crude oil prices don't tell the full story about inflation.
Overview
Roughly four weeks ago, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and innovation-powered Nasdaq Composite (NASDAQINDEX: ^IXIC) all exploded to new highs. However, this rally doesn't tell the complete story on Wall Street at the moment.
Aside from the artificial intelligence (AI) infrastructure build-out, no topic is garnering more attention than inflation. Although crude oil prices have come down in a big way over the last six weeks, the Federal Reserve's latest June inflation update has an unpleasant surprise in store for Wall Street.
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Originally published at www.fool.com.
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