Kudlow: Stop the spending, stop the money printing presses
‘Kudlow’ host discusses the growing economic crisis of inflation as it surges to its highest since 1990.
Consumer prices recorded a stunning increase for the month of October.
Rising a huge .9% just for the month alone. And 6.2% for the past 12 months. It is the fastest pace in over 30 years.
And I have to say, that last month’s results really, really undercut the idea that inflation is temporary or transitory or whatever excuse the federal reserve is making. By the way, if you look under the hood of the report, energy was up nearly 5% for the month, and 30% for the last year. I’m going to come back to that story in a moment.
Art Laffer makes an important point, that the CPI seems to be following the PPI – which is producer or in the old days we called it wholesale price index.
PPI is
