5 reasons why Wall Street isn't freaking out about inflation
CBSN
Americans are increasingly sour on the U.S. economy, with many of them pointing to the highest inflation in 30 years as cause for alarm. But Wall Street is shrugging off these concerns, as stocks are pushed higher and with the Dow Jones Industrial Index hitting a record 36,000 earlier this month.
About 65% of Americans now view the economy as poor, according to a poll by The Associated Press-NORC Center for Public Affairs Research. And both consumers and economists predict inflation will continue to rise over the next several months.
Given that everything from gasoline to food costs more — and is eating into household purchasing power — why isn't Wall Street freaking out? It's a question that is causing some people to scratch their heads, according to Anatole Kaletsky of Gavekal Research.
