This week, the Consumer Price Index (CPI) came out, and despite the Federal Reserve insisting that the inflation we’re seeing is transitory, the numbers indicate that it’s here to stay.
When the CPI was reported in October, we saw an acceleration. But now, it’s out of control.
The Fed is going to have to act quickly and decisively in order to rein things in.
In the meantime, inflation is hitting one sector of the market especially hard.
Tech Stocks to Watch as Inflation Rises
I always start the week with a report highlighting some of the things we want to keep an eye on for the week ahead, things like economic numbers and earnings reports.
This past week, the Consumer Price Index was on my radar. Little did I know just how important it would be.
Six months ago, Federal Reserve Chair Jerome Powell said the inflation we were seeing would be transitory.
But the numbers we saw on Oct. 10 were the biggest we’ve seen since 1990 — 0.9% month over month, and 6.2% year over year.
And keep in mind, the numbers that they’re publishing are going to be the most conservative ones.
In many categories, the numbers are much higher for some items.
And inflation isn’t just hitting consumers hard. It’s affecting the tech sector, too.
In my video below, I’ll show you which tech stocks to watch, and even give you an inside look at a recent Money Link trade that was initiated to take advantage of this exact situation.
Check out the video below to learn more.
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