The Federal Reserve may need to push rates as high as 5%, and the economy into more than a mild recession to tame inflation, according to CFOs.
This Wednesday's April CPI, with headline inflation still expected in the 8% range, will be a focus for the debate over peaking inflation.
Companies keep talking about their ability to pass on price increases to customers, but that pricing strength seems to be waning as a source of confidence for the C-suite. There is $2 trillion in excess savings, and to date, consumer spending is not just meeting the inflation level, but exceeding it in terms of real spending data.
Recent transactions data shows bigger purchases in travel, furniture, appliances, and electronics, all signs that consumers at the high end are overwhelming those who are actually struggling.
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