We recently read this Reuters article in which Treasury Secretary Yellen stated that inflation would remain high.
U.S. Treasury Secretary Janet Yellen told senators on Tuesday that she expected inflation to remain high and the Biden administration would likely increase the 4.7% inflation forecast for this year in its budget proposal.
Reuters
With that tidbit of information, we decided to do our top trading partner inflation check and the results are concerning. On average, inflation across all top trading partners is 5.99 percent. The UK and the Netherlands have had an explosion of inflation over the past month.
It really does seem that inflation is out of control. The Federal Reserve is expected to meet June 14/15 to discuss the next interest rate policy and it looks like it may be up.
With inflation continuing to climb, the best move we could come up with is to buy defensive stocks one small bite at a time. We also recently sold our Exxon stock given it has had a tremendous run up since we bought it. In a future post, we will update our portfolio with the stocks we’ve added and removed. Stay tuned and stay solvent…
[…] the number is shocking, the fact that we’ve been monitoring high inflation in all of the United States trading partners for the past few months, it’s not really […]