Consumer prices spike the most in over three decades. Jeremy Siegel and others on what's next (via TradingNation)
The Labor Department's consumer price index rose 6.2% year over year in October, its largest increase since December 1990. Annual core inflation rose at the fastest pace since August 1991.
"Listen, stocks love inflation until the Fed gets serious about it and they have not been serious about it. We will see. They're going to get one more inflation report in December or November before their December 15th meeting. If it is anywhere like it is today, I think the pressure on [Fed Chairman Jerome] Powell will be just enormous to come down much stronger than he has so far."
"I think the Fed is going to have to get serious, but what does that mean? The thing that you have to look out for is when do they raise rates? And we're months away from it, probably at least two quarters, and history says after the Fed starts raising rates, you usually get two years of rallying after that. So I'm really not that worried overall. … I do want to put something out there: I am very much all in. I am riding this horse to the finish line.
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