Recession Watch: Inflation Won't Die Until The Economy Kills It

In other words, It Takes A Crisis

A previously obscure inflation metric called Core Services CPI shocked the world this week by rising at an annual rate of 8%. This pretty much rules out a Fed rate cut in the near term.

Responding to the prospect of “higher for longer,” the 10-year Treasury yield spiked back up to 4.3%, guaranteeing 7%+ mortgages and 10%+ car loans for at least the next …