“It’s Demand-Driven Not Supply Chain Driven Inflation”
#CKStrong
Those are the words of Matthew Shay, the CEO of the world’s largest retail trade association on CNBC today (1:07 minutes in). Does that sound familiar, folks?
Mr. Shay notes the consumer remains strong despite the recent inflation spike. He also added this zinger, making him sound like an analyst at GMM.
“The excess demand is driven by all the money that is out in the marketplace.”
[48 seconds in]
Refreshing view rather than the typical obfuscation of “the supply chain disruptions are causing the inflation.” The stimulus-driven demand has swamped the supply chain, though we do concede there are real supply chain disruptions, which are affecting inflation. Not the predominant factor, however.
Source: https://global-macro-monitor.com/2022/05/11/its-demand-driven-not-supply-chain-driven-inflation/
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