The Fed should have started tightening long ago, the writing was on the wall.

When prices go up, people spend less. This is especially true when we are dealing with a supply chain shock like we had the last 20 months.

I agree wholeheartedly with this statement as it applies to luxury goods. But I'm of the opinion that it is inapplicable when considering essentials as the mentality becomes 'buy today as it'll cost more tomorrow' and in such case people are inclined to stock essentials (just look at the toilet paper shortage...).

Posted Using LeoFinance ^Beta