"Sticky Inflation" Mentions On Earnings Calls Hits New High As Big Brands Warn About Buckling Consumers [zero hedge]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: zero hedge
"Sticky Inflation" Mentions On Earnings Calls Hits New High As Big Brands Warn About Buckling Consumers On Wednesday, Fed Chairman Jerome Powell dismissed the idea that the economy could slide into "stagflation" despite multiple warning signs of a slowing economy and inflation reaccelerating higher. "I was around for stagflation, and it was 10% unemployment, it was high-single-digit inflation," Powell said, noting, "Right now we have 3% growth, which is pretty solid growth, I would, say by any measure, and we have inflation running under 3%." Powell then claimed he didn't see "stag" or the "flation" anywhere. However, Powell has been very wrong before. He missed the initial surge in inflation in the months following the virus pandemic after the government helicopter dropped trillions of dollars on the economy. More recently, Powell prematurely pivoted on the interest rate hiking cycle before having to backtrack. Meanwhile, America's largest companies are warning consumers are buckling
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- 4/30/24 - Miss
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