SUMMARY: The CPI report from June was awful because not only was it worse than expected but it was broad-based which means there is no one category to blame, Greg Ip writes that are a lot of optimistic thoughts about inflation that are mostly wrong, and Kevin Muir writes about the fiscal consequences of this monetary problem...

Sources:

• Inflation Rate Hits 9.1% in June
• GREG IP: Beware Wishful Thinking About Inflation and Recession (WSJ)
• KEVIN MUIR: The Cost of Taming Inflation Will Be Exorbitant (Bloomberg)

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