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Podcast: The Schaftlein Report
Episode: The Schaftlein Report - Producer Price Index Jumps 11.3% in July
Description: 1) Wholesale PPI increase of 11.3% is WAY too high and will bleed into an already accelerating Inflation with rising input costs. 2) Biden says June Inflation "Unacceptably high", but out of date. Is it possible it peaked - MAYBE? The risk is wage price spiral. 3) Excluding Food and Energy, the Core CPI was at 5.9%. Former Treasury Secretary Larry Summers characterized it as "Way too high and out of control" Summers warned of this a year ago. 4) Sen. Manchin throws cold water on a scaled back Build Back Better as Inflation is too much...