United States Federal Reserve Chair Jerome Powell said on Wednesday that the “risk of persistently high inflation has clearly risen.” Speaking before the US House of Representatives Committee on Financial Services, he noted that inflation is “clearly” connected to coronavirus pandemic-caused factors and that the vast majority of estimates say that it will go down in the second half of 2022. Previous projections predicted that demand would be strong, but underestimated the problems on the supply side, he revealed, adding that soaring demand can be attributed to both, the fiscal policy as well as a “quickly rebounding economy.” Powell also stated that wages moved up “significantly,” but not “at a troubling rate that would tend to spark higher inflation.” According to him, the US economic recovery has been the “strongest” among the world’s largest economies. NN: Slowly they turn……… Reality is the Fed has had a great big inflation problem for a very log time. After being in denial for the better part of a year they are now STARTING to face reality. The bigger they are the dumber they are. Big organizations by their very nature stifle the brilliant. Its how the big wigs at the top survive. They did not get their by their brilliance but by their treachery. Mankind pays a price for inept leadership. If you have any doubts look at the covid fiasco. Now wonder the public does not trust the CDC and the FDA. I have made a business and spent a life time in search of truth. Now being in the truth business will never make you rich. So i early on learned i could make a hell of a lot of money trading truth. AKA the fundamentals. My point of all this is the stock market is still in a fools paradise. The biggest bubble by any matrix you care to use. Truth is the Fed has lit off an inflation bubble market fire storm. And the system will force them to raise rates… Net result one of the biggest stock market crashes in history is coming…..