The U.S. economy is going to see a resurgence of inflation that will “disrupt everybody’s narratives,” Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow in a Tuesday interview.
Carney pointed to the rising price of oil and shelter as tell-tale signs that inflation will surge again.
“The only reason oil is as cheap as it is is because China has been lagging behind,” Carney explained. “China is about to put a bunch of stimulus into the economy because politically Xi Jinping cannot afford to have the economy be growing as slow as it. So, they’re going to come back. Oil is going to go up, but it’s not just oil. Look at what’s happening to home prices—up four months in a row. So that’s not going to be weighing on CPI much longer… Shelter is about 40 percent of CPI.”
“So, we’re going to have a resurgence of inflation that is…