We don’t like to be killjoys, but is anyone else paying attention to the huge spike in commodity prices over the past two months?

The CPI is back at 3% according to the latest government report, and investors cheered that it wasn’t worse. But we feel confident in predicting it’s going to get worse quickly.

In just the past two weeks, commodities like gold, silver, oil, and corn have spurted by more than 5% – coincident with the ongoing Biden spending spree in the first three months of fy2025. Oil hit $78 a barrel, which will mean $3 or $3.50 a gallon in a town near you.

Just another mess Trump is inheriting from Biden.

We’re surprised some on Wall Street believe the Fed will continue to lower rates later this year. Perhaps investors understand that Trump’s supply side energy, tax, and regulatory policies will bring prices down. But for the short term, inflation is headed in the wrong direction.

We hope we are wrong.