The Core

>11% quote shocked me

That was my mortgage rate on our new home in 1977. 

>11%

Good! I need to make some money!

Fed Chairman Powell: 'We should have moved earlier'
https://finance.yahoo.com/news/fed-chairman-powell-we-should-have-moved-earlier-211146680.html

^{Time for the Fed to release the Kracken....}

Inflation accelerated in May to the fastest pace in 41 years

US CPI Inflation Gains to 8.6% in May, Exceeding Estimates
https://www.businessinsider.com/inflation-report-cpi-may-gas-prices-federal-reserve-rate-hikes-2022-6

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On Aug. 15, 1971, in a nationally televised address, President Nixon announced, “I am today ordering a freeze on all prices and wages throughout the United States.”

After a 90‐​day freeze, increases would have to be approved by a “Pay Board” and a “Price Commission,” with an eye toward eventually lifting controls — conveniently, after the 1972 election.
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Having lived through the 70s as a young adult, you can understand why Debbie is a little cynical when the goverment say inflation is 'under control.'

2007 article makes for déjà vu re gas & oil:


History 101: Price controls don't work – Chicago Tribune
https://www.chicagotribune.com/news/ct-xpm-2007-06-07-0706061080-story.html

>Though my dad would not speculate on the stock market he would bet the ranch on copper pipe and copper wire.  When copper prices bottomed out truckloads of pipe & wire would start arriving at the wholesale business.  We'd have pallets & bundles of it stacked everywhere.

Copper Prices Fall Lowest in 20 Months. This Miner Just Warned of Earnings Hit. | Barron's
https://www.barrons.com/articles/copper-prices-lowest-rio-tinto-51657880310

^{Harbinger of recession.  Buckle up.}

October: Fed seen ramping up interest-rate hikes as inflation burns hot

UK inflation rate surprises again with March figure holding above 10%

https://www.cnbc.com/2023/04/19/uk-inflation-rate-surprises-again-with-march-figure-holding-above-10percent.html