Episode 109: With the increase in oil prices over the past weeks and a tightening job market, Wall Street is starting to worry about inflation. That’s one of the reasons for rising interest rates and of late gold has even broken above $1200/oz.
My thought is that the oil price pendulum has swung too far and supply/demand does not justify prices above $60. I’m watching for a pullback. It’s still anyone’s guess what the Fed will do with interest rates.
The market is turbulent because investors know that profits will suffer if the cost of labor and money continue to rise.
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