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The new year brought with it hope that a long, painful season of high inflation was finally coming to a close – but the U.S. economy may not be out of the woods yet. In a note to clients last week, Ben Emons of the Connecticut-based NewEdge Wealth warned that "there are signs of a second chapter in the pandemic price surge," citing higher than expected inflation readings across the globe. The signs include an unexpected jump in the Spanish inflation rate after a five-month period of slowing price growth, on top of increases in the consumer price gauges in Australia, Japan and Italy. In making his case, Emons – a senior portfolio manager – cited Fed research published in January that suggests inflation has become more synchronized globally and is driven by many of the same factors, including housing, energy and transportation. The study indicates that if inflation spikes in several developed nations, it is likely to rise in the U.S. as well."These are all forces in the works here," he told FOX Business. "Inflation has not gone to sleep. Inflation never sleeps. It’s higher, and it’s going to stay higher. It may go higher."
...Ben Emons predict another a second chapter for inflation. It could go even higher.
