It's official.

US CPI inflation has now been above the Fed's 2% target for 67 consecutive months.

The last time inflation was below 2% in the US was in January 2021, amid a global economic lockdown.

Over this period, the value of the US Dollar has declined by -22.5%.

In other words, it now costs $129 to purchase the same goods and services that cost $100 in 2021.

Compounding inflation has become the new norm in the US.

Asset owners are the only winners.
(@TheKobeissiLetter)