The surprise factor in the recent inflationary trend stems from the oversight of crucial indicators like M2, even within institutions like the Federal Reserve.
Just about everyone (including at the Federal Reserve) was surprised by inflation. You know why? Because they didn’t pay attention to M2! They still aren’t, and I believe that the decline in M2 is going to cause a recession that surprises just about everyone. pic.twitter.com/mVWvzzS2lO
— Brian Wesbury (@wesbury) November 16, 2023
Walmart CEO Doug McMillon expects deflation in the U.S. in the coming months, potentially leading to lower prices for consumers. Despite Walmart’s Q3 profit and sales beat, their stock dropped due to lower-than-expected 2023 guidance. McMillon cited high food prices as a concern but noted declining general merchandise prices could benefit Walmart in the holiday season. The Bentonville, Ark.-based retail giant (WMT) posted net income of $453 million, or 17 cents a share, for the third quarter, after a loss of $1.8 billion, or 66 cents a share, in the year-earlier period.