With headline inflation at 6%, is this now the new normal? And what does this mean for you and your portfolio? So why do we have this inflation? Really, there are three reasons. One, we’ve been printing money. We’ve needed to do asset purchases, which is code for the Fed buys bonds in the open market as a way to inject capital into the system. This saved the country from a depression when the first shutdown occurred in March last year. It’s always easy to start this money printing., it’s harder to taper. Second, and this has gotten almost no airplay because it’s so bipartisan, it appears, but every economist is choking on the concept, and that is tariffs. When the Trump tariffs came in and they have been maintained by the Biden administration, that basically increased the cost of everything that had a tariff applied. Tariffs are insidious…
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