The Fed’s highly expansive monetary policy is driving the demand for everything, including stocks.
Inflation soared higher in October.
Producer prices for finished goods were up 1½ percent. Oil prices were up 6 percent from September, to $81 per barrel. October consumer prices were up at a 12 percent annual rate.
Even core inflation (without oil and food prices), rose at a 6 percent annual rate.
Year over year, consumer prices were up 6.2 percent, and core inflation was up 4.6 percent. These both are the highest yearly inflation rates in more than 30 years.
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