More Pain in the Pump to Come?
Published in
2 min readMay 4, 2023
Powell did the predictable and hiked rates another 25 bps. This comes as another paper empire collapses, which is First Republic Bank, which was taken over by JP Morgan. Regardless of how levered the US financial system is (which is THE US WHOLE US ECONOMY), Powell is set on fighting inflation.
This is definitely bad news for the oil producers. Since the start of inflation, a fight has been brewing between…
