10 August 2023
The Federal Reserve’s attempts to curb relentless inflation appear futile. Market indicators project a persistent inflation rate exceeding 2% for the foreseeable future. The 5-year breakeven inflation rate stubbornly remains above the Fed’s target, showcasing their inability to control the situation. Notwithstanding aggressive interest rate hikes, inflationary pressures show no sign of abating. With crude oil and wheat prices on a worrying upward trajectory and geopolitical tensions mounting, global financial stability hangs in the balance. Wall Street’s heightened alarm suggests an impending economic catastrophe.