Good article_老虎社区_美港股上老虎

Jasminesohh
2021-06-16

Good article

Investors and the Fed aren't freaking out about inflation. Should they?<blockquote>投资者和美联储并没有对通胀感到恐慌。他们应该吗？</blockquote>

New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it co

Investors and the Fed aren't freaking out about inflation. Should they?<blockquote>投资者和美联储并没有对通胀感到恐慌。他们应该吗？</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":160138247,"tweetId":"160138247","gmtCreate":1623774306089,"gmtModify":1634028415573,"author":{"id":3579519463104693,"idStr":"3579519463104693","authorId":3579519463104693,"authorIdStr":"3579519463104693","name":"Jasminesohh","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Good article</body></html>","htmlText":"<html><head></head><body>Good article</body></html>","text":"Good article","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/160138247","repostId":1145996523,"repostType":4,"repost":{"id":"1145996523","kind":"news","pubTimestamp":1623751116,"share":"https://www.laohu8.com/m/news/1145996523?lang=zh_CN&edition=full","pubTime":"2021-06-15 17:58","market":"us","language":"en","title":"Investors and the Fed aren't freaking out about inflation. Should they?<blockquote>投资者和美联储并没有对通胀感到恐慌。他们应该吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1145996523","media":"cnn","summary":"New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it co","content":"New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.<blockquote>纽约（CNN Business）在通货膨胀方面，大街和华尔街之间存在巨大的脱节。总得有所让步。</blockquote> The US government reported last week that consumer prices, excluding food and energy, rose at their fastest clip since 1992 in May. Sherwin-Williams (SHW) is lifting the price of paint, one of many companies that's responding to higher commodities costs.<blockquote>美国政府上周报告称，5月份不包括食品和能源的消费者价格涨幅为1992年以来最快。宣伟(SHW)正在提高油漆价格，这是众多应对大宗商品成本上涨的公司之一。</blockquote> Food prices are also surging. Chipotle (CMG) just raised prices. So did Campbell Soup (CPB).<blockquote>食品价格也在飙升。Chipotle(CMG)刚刚提高了价格。金宝汤（CPB）也是如此。</blockquote> And the chief financial officer of restaurant and arcade chain Dave &amp; Buster's (PLAY) said during a recent earnings call with analysts that he expects a 6% to 8% increase in food costs for 2021 due to higher chicken, beef and dairy prices.<blockquote>餐厅和街机连锁店Dave&amp;Buster's(PLAY)的首席财务官在最近与分析师举行的财报看涨期权上表示，由于鸡肉、牛肉和乳制品价格上涨，他预计2021年食品成本将上涨6%至8%。</blockquote> Wages are rising too, especially for workers in the retail, leisure and hospitality sectors that are returning to jobs as the economy reopens. That adds to inflationary pressures, because some companies will choose to hike prices in order to maintain profits.<blockquote>工资也在上涨，尤其是随着经济重新开放而重返工作岗位的零售、休闲和酒店行业的工人。这增加了通胀压力，因为一些公司会选择提高价格以维持利润。</blockquote> Labor shortages aren't helping.<blockquote>劳动力短缺无济于事。</blockquote> The CEO of online pet retailer Chewy (CHWY) wrote in a letter to shareholders after its latest earnings report that it \"faced labor shortages in our fulfillment centers similar to those being faced by many companies nationwide.\" As a result, Chewy continues \"to invest in higher wages and benefits\" in order to fill job vacancies.<blockquote>在线宠物零售商Chewy(CHWY)的首席执行官在最新财报发布后致股东的一封信中写道，该公司“面临着与全国许多公司类似的劳动力短缺问题”。因此，Chewy继续“投资于更高的工资和福利”，以填补职位空缺。</blockquote> Yet investors — and the Federal Reserve — are shrugging off rising inflation as \"transitory.\" Long-term bond yields are falling, which isn't what normally happens when inflation runs hot. If bond investors believed that price hikes are here to stay, they'd be demanding higher yields.<blockquote>然而，投资者和美联储对通胀上升不屑一顾，认为这是“暂时的”。长期债券收益率正在下降，这通常不会在通胀加剧时发生。如果债券投资者认为价格上涨将持续下去，他们就会要求更高的收益率。</blockquote> And the market is pricing in just a 3% chance of a rate hike from the Fed by the end of the year. That's down from a 10% likelihood of higher rates just a month ago. Investors know a rate hike is the central bank's best tool to fight rising inflation, and they'll want to hear more on the subject when Fed chair Jerome Powell speaks at a press conference on Wednesday.<blockquote>市场预计美联储年底加息的可能性仅为3%。这低于一个月前10%的加息可能性。投资者知道加息是央行对抗通胀上升的最佳工具，当美联储主席杰罗姆·鲍威尔在周三的新闻发布会上发表讲话时，他们希望听到更多有关该主题的信息。</blockquote> \"The bond market is still not concerned about inflation. It's buying what the Fed is selling,\" said Randy Warren, CEO of Warren Financial.<blockquote>沃伦金融公司首席执行官兰迪·沃伦表示：“债券市场仍然不担心通胀。它正在购买美联储正在出售的东西。”</blockquote> The problem is that there is a chance the Fed could wait too long to react to inflation.<blockquote>问题是，美联储可能会等待太久才对通胀做出反应。</blockquote> \"Is inflation transitory or something more structural?\" asked Steven Oh, global head of credit and fixed income with PineBridge Investments. \"Will the Fed lose control of it down the road and make a policy error and not have the ability to rein it in?\"<blockquote>“通货膨胀是暂时的还是更具结构性的？”PineBridge Investments信贷和固定收益全球主管Steven Oh问道。“美联储将来会失去对它的控制，犯政策错误，没有能力控制它吗？”</blockquote> If the Fed and bond market are wrong about inflation, the central bank may have to wind down its pandemic stimulus much more quickly than it — and investors — would like. That would mean unwinding its big asset purchases and raising rates sooner rather than later.<blockquote>如果美联储和债券市场对通胀的看法是错误的，那么央行可能不得不以比其和投资者希望的更快的速度结束疫情刺激措施。这将意味着取消大规模资产购买并尽早加息。</blockquote> Oh doesn't think that will be the case. And many others agree. They argue that investors must keep in mind how rapidly the economy has roared back.<blockquote>哦，我不认为会是这样。许多其他人也同意。他们认为，投资者必须牢记经济复苏的速度有多快。</blockquote> For that reason, it should not be that big of a surprise that there are dislocations in the job market and supply chain. It will take time for conditions to revert to what they were like in late 2019 and early 2020 before Covid-19.<blockquote>因此，就业市场和供应链出现混乱也就不足为奇了。恢复到2019年底和2020年初新冠肺炎之前的水平需要时间。</blockquote> \"There are a lot of questions about inflation because you see it in everyday life,\" said Bryan Koslow, principal of Clarus Group, a wealth management firm. \"But we may have seen the peak, especially in terms of wage growth.\"<blockquote>财富管理公司Clarus Group的负责人布莱恩·科斯洛(Bryan Koslow)表示：“关于通货膨胀有很多问题，因为你在日常生活中都会看到它。”“但我们可能已经看到了峰值，尤其是在工资增长方面。”</blockquote> Even if that does turn out to be true, the mere fact that investors and consumers are so focused on prices is noteworthy. Inflation has essentially been a non-issue for more than a decade.<blockquote>即使事实证明这是真的，投资者和消费者如此关注价格这一事实也值得注意。十多年来，通货膨胀基本上不是问题。</blockquote> \"The Fed has to take the inflation concerns seriously,\" said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. He added that he thinks there is a 20% chance that inflation pressures turn out to be more persistent as opposed to transitory.<blockquote>SkyBridge Capital联席首席投资官兼高级投资组合经理Troy Gayeski表示：“美联储必须认真对待通胀担忧。”他补充说，他认为通胀压力有20%的可能性变得更加持久，而不是暂时的。</blockquote> \"The risk of meaningful inflation has been non-existent since 2008. Until now,\" Gayeski said.<blockquote>“自2008年以来，有意义的通胀风险一直不存在。直到现在，”Gayeski说。</blockquote> What's getting more expensive<blockquote>什么越来越贵</blockquote> Food and paint aren't the only things getting more expensive. As CNN Business' Moira Ritter points out, the prices of just about everything have gone up lately.<blockquote>食物和油漆并不是唯一变得更贵的东西。正如CNN商业频道的莫伊拉·里特(Moira Ritter)指出的那样，最近几乎所有东西的价格都在上涨。</blockquote> Lumber prices have soared. And the housing market continues to boom. That's led to a big spike in the prices of couches and other household furnishings.<blockquote>木材价格飙升。房地产市场继续繁荣。这导致沙发和其他家居用品的价格大幅上涨。</blockquote> Used cars are a lot more expensive too. Chalk that up to people returning to work and a dearth of new cars on dealership lots due to the chip supply shortage that has hurt production of new vehicles.<blockquote>二手车也贵得多。这归因于人们重返工作岗位，以及由于芯片供应短缺损害了新车的生产，经销商处新车短缺。</blockquote> People are traveling more as well. Airfares have shot up in anticipation of what some are dubbing the red hot vaccine summer.<blockquote>人们也越来越多地旅行。由于预期一些人所说的“炙手可热的疫苗之夏”，机票价格飙升。</blockquote> Up next<blockquote>下一个</blockquote> Tuesday: US retail sales; US producer price index; Earnings from Oracle (ORCL) and H &amp; R Block (HRB)<blockquote>星期二：美国零售额；美国生产者价格指数；Oracle(ORCL)和H&amp;R Block(HRB)的收益</blockquote> Wednesday: Federal Reserve rate decision; US housing starts and building permits; EIA crude oil inventories; Earnings from Lennar (LEN)<blockquote>星期三：美联储利率决定；美国新屋开工和建筑许可；EIA原油库存；Lennar(LEN)的收益</blockquote> Thursday: US jobless claims; Earnings from Kroger (KR) and Adobe (ADBE)<blockquote>星期四：美国初请失业金人数；克罗格(KR)和Adobe(ADBE)的收益</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors and the Fed aren't freaking out about inflation. Should they?<blockquote>投资者和美联储并没有对通胀感到恐慌。他们应该吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors and the Fed aren't freaking out about inflation. Should they?<blockquote>投资者和美联储并没有对通胀感到恐慌。他们应该吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n\ncnn2021-06-15 17:58\n\n</h4>\n</header>\n<article>\nNew York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.<blockquote>纽约（CNN Business）在通货膨胀方面，大街和华尔街之间存在巨大的脱节。总得有所让步。</blockquote> The US government reported last week that consumer prices, excluding food and energy, rose at their fastest clip since 1992 in May. Sherwin-Williams (SHW) is lifting the price of paint, one of many companies that's responding to higher commodities costs.<blockquote>美国政府上周报告称，5月份不包括食品和能源的消费者价格涨幅为1992年以来最快。宣伟(SHW)正在提高油漆价格，这是众多应对大宗商品成本上涨的公司之一。</blockquote> Food prices are also surging. Chipotle (CMG) just raised prices. So did Campbell Soup (CPB).<blockquote>食品价格也在飙升。Chipotle(CMG)刚刚提高了价格。金宝汤（CPB）也是如此。</blockquote> And the chief financial officer of restaurant and arcade chain Dave &amp; Buster's (PLAY) said during a recent earnings call with analysts that he expects a 6% to 8% increase in food costs for 2021 due to higher chicken, beef and dairy prices.<blockquote>餐厅和街机连锁店Dave&amp;Buster's(PLAY)的首席财务官在最近与分析师举行的财报看涨期权上表示，由于鸡肉、牛肉和乳制品价格上涨，他预计2021年食品成本将上涨6%至8%。</blockquote> Wages are rising too, especially for workers in the retail, leisure and hospitality sectors that are returning to jobs as the economy reopens. That adds to inflationary pressures, because some companies will choose to hike prices in order to maintain profits.<blockquote>工资也在上涨，尤其是随着经济重新开放而重返工作岗位的零售、休闲和酒店行业的工人。这增加了通胀压力，因为一些公司会选择提高价格以维持利润。</blockquote> Labor shortages aren't helping.<blockquote>劳动力短缺无济于事。</blockquote> The CEO of online pet retailer Chewy (CHWY) wrote in a letter to shareholders after its latest earnings report that it \"faced labor shortages in our fulfillment centers similar to those being faced by many companies nationwide.\" As a result, Chewy continues \"to invest in higher wages and benefits\" in order to fill job vacancies.<blockquote>在线宠物零售商Chewy(CHWY)的首席执行官在最新财报发布后致股东的一封信中写道，该公司“面临着与全国许多公司类似的劳动力短缺问题”。因此，Chewy继续“投资于更高的工资和福利”，以填补职位空缺。</blockquote> Yet investors — and the Federal Reserve — are shrugging off rising inflation as \"transitory.\" Long-term bond yields are falling, which isn't what normally happens when inflation runs hot. If bond investors believed that price hikes are here to stay, they'd be demanding higher yields.<blockquote>然而，投资者和美联储对通胀上升不屑一顾，认为这是“暂时的”。长期债券收益率正在下降，这通常不会在通胀加剧时发生。如果债券投资者认为价格上涨将持续下去，他们就会要求更高的收益率。</blockquote> And the market is pricing in just a 3% chance of a rate hike from the Fed by the end of the year. That's down from a 10% likelihood of higher rates just a month ago. Investors know a rate hike is the central bank's best tool to fight rising inflation, and they'll want to hear more on the subject when Fed chair Jerome Powell speaks at a press conference on Wednesday.<blockquote>市场预计美联储年底加息的可能性仅为3%。这低于一个月前10%的加息可能性。投资者知道加息是央行对抗通胀上升的最佳工具，当美联储主席杰罗姆·鲍威尔在周三的新闻发布会上发表讲话时，他们希望听到更多有关该主题的信息。</blockquote> \"The bond market is still not concerned about inflation. It's buying what the Fed is selling,\" said Randy Warren, CEO of Warren Financial.<blockquote>沃伦金融公司首席执行官兰迪·沃伦表示：“债券市场仍然不担心通胀。它正在购买美联储正在出售的东西。”</blockquote> The problem is that there is a chance the Fed could wait too long to react to inflation.<blockquote>问题是，美联储可能会等待太久才对通胀做出反应。</blockquote> \"Is inflation transitory or something more structural?\" asked Steven Oh, global head of credit and fixed income with PineBridge Investments. \"Will the Fed lose control of it down the road and make a policy error and not have the ability to rein it in?\"<blockquote>“通货膨胀是暂时的还是更具结构性的？”PineBridge Investments信贷和固定收益全球主管Steven Oh问道。“美联储将来会失去对它的控制，犯政策错误，没有能力控制它吗？”</blockquote> If the Fed and bond market are wrong about inflation, the central bank may have to wind down its pandemic stimulus much more quickly than it — and investors — would like. That would mean unwinding its big asset purchases and raising rates sooner rather than later.<blockquote>如果美联储和债券市场对通胀的看法是错误的，那么央行可能不得不以比其和投资者希望的更快的速度结束疫情刺激措施。这将意味着取消大规模资产购买并尽早加息。</blockquote> Oh doesn't think that will be the case. And many others agree. They argue that investors must keep in mind how rapidly the economy has roared back.<blockquote>哦，我不认为会是这样。许多其他人也同意。他们认为，投资者必须牢记经济复苏的速度有多快。</blockquote> For that reason, it should not be that big of a surprise that there are dislocations in the job market and supply chain. It will take time for conditions to revert to what they were like in late 2019 and early 2020 before Covid-19.<blockquote>因此，就业市场和供应链出现混乱也就不足为奇了。恢复到2019年底和2020年初新冠肺炎之前的水平需要时间。</blockquote> \"There are a lot of questions about inflation because you see it in everyday life,\" said Bryan Koslow, principal of Clarus Group, a wealth management firm. \"But we may have seen the peak, especially in terms of wage growth.\"<blockquote>财富管理公司Clarus Group的负责人布莱恩·科斯洛(Bryan Koslow)表示：“关于通货膨胀有很多问题，因为你在日常生活中都会看到它。”“但我们可能已经看到了峰值，尤其是在工资增长方面。”</blockquote> Even if that does turn out to be true, the mere fact that investors and consumers are so focused on prices is noteworthy. Inflation has essentially been a non-issue for more than a decade.<blockquote>即使事实证明这是真的，投资者和消费者如此关注价格这一事实也值得注意。十多年来，通货膨胀基本上不是问题。</blockquote> \"The Fed has to take the inflation concerns seriously,\" said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. He added that he thinks there is a 20% chance that inflation pressures turn out to be more persistent as opposed to transitory.<blockquote>SkyBridge Capital联席首席投资官兼高级投资组合经理Troy Gayeski表示：“美联储必须认真对待通胀担忧。”他补充说，他认为通胀压力有20%的可能性变得更加持久，而不是暂时的。</blockquote> \"The risk of meaningful inflation has been non-existent since 2008. Until now,\" Gayeski said.<blockquote>“自2008年以来，有意义的通胀风险一直不存在。直到现在，”Gayeski说。</blockquote> What's getting more expensive<blockquote>什么越来越贵</blockquote> Food and paint aren't the only things getting more expensive. As CNN Business' Moira Ritter points out, the prices of just about everything have gone up lately.<blockquote>食物和油漆并不是唯一变得更贵的东西。正如CNN商业频道的莫伊拉·里特(Moira Ritter)指出的那样，最近几乎所有东西的价格都在上涨。</blockquote> Lumber prices have soared. And the housing market continues to boom. That's led to a big spike in the prices of couches and other household furnishings.<blockquote>木材价格飙升。房地产市场继续繁荣。这导致沙发和其他家居用品的价格大幅上涨。</blockquote> Used cars are a lot more expensive too. Chalk that up to people returning to work and a dearth of new cars on dealership lots due to the chip supply shortage that has hurt production of new vehicles.<blockquote>二手车也贵得多。这归因于人们重返工作岗位，以及由于芯片供应短缺损害了新车的生产，经销商处新车短缺。</blockquote> People are traveling more as well. Airfares have shot up in anticipation of what some are dubbing the red hot vaccine summer.<blockquote>人们也越来越多地旅行。由于预期一些人所说的“炙手可热的疫苗之夏”，机票价格飙升。</blockquote> Up next<blockquote>下一个</blockquote> Tuesday: US retail sales; US producer price index; Earnings from Oracle (ORCL) and H &amp; R Block (HRB)<blockquote>星期二：美国零售额；美国生产者价格指数；Oracle(ORCL)和H&amp;R Block(HRB)的收益</blockquote> Wednesday: Federal Reserve rate decision; US housing starts and building permits; EIA crude oil inventories; Earnings from Lennar (LEN)<blockquote>星期三：美联储利率决定；美国新屋开工和建筑许可；EIA原油库存；Lennar(LEN)的收益</blockquote> Thursday: US jobless claims; Earnings from Kroger (KR) and Adobe (ADBE)<blockquote>星期四：美国初请失业金人数；克罗格(KR)和Adobe(ADBE)的收益</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://edition.cnn.com/2021/06/13/investing/stocks-week-ahead/index.html\">cnn</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/06/13/investing/stocks-week-ahead/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145996523","content_text":"New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.\nThe US government reported last week that consumer prices, excluding food and energy, rose at their fastest clip since 1992 in May. Sherwin-Williams (SHW) is lifting the price of paint, one of many companies that's responding to higher commodities costs.\nFood prices are also surging. Chipotle (CMG) just raised prices. So did Campbell Soup (CPB).\nAnd the chief financial officer of restaurant and arcade chain Dave & Buster's (PLAY) said during a recent earnings call with analysts that he expects a 6% to 8% increase in food costs for 2021 due to higher chicken, beef and dairy prices.\nWages are rising too, especially for workers in the retail, leisure and hospitality sectors that are returning to jobs as the economy reopens. That adds to inflationary pressures, because some companies will choose to hike prices in order to maintain profits.\nLabor shortages aren't helping.\nThe CEO of online pet retailer Chewy (CHWY) wrote in a letter to shareholders after its latest earnings report that it \"faced labor shortages in our fulfillment centers similar to those being faced by many companies nationwide.\" As a result, Chewy continues \"to invest in higher wages and benefits\" in order to fill job vacancies.\nYet investors — and the Federal Reserve — are shrugging off rising inflation as \"transitory.\" Long-term bond yields are falling, which isn't what normally happens when inflation runs hot. If bond investors believed that price hikes are here to stay, they'd be demanding higher yields.\nAnd the market is pricing in just a 3% chance of a rate hike from the Fed by the end of the year. That's down from a 10% likelihood of higher rates just a month ago. Investors know a rate hike is the central bank's best tool to fight rising inflation, and they'll want to hear more on the subject when Fed chair Jerome Powell speaks at a press conference on Wednesday.\n\"The bond market is still not concerned about inflation. It's buying what the Fed is selling,\" said Randy Warren, CEO of Warren Financial.\nThe problem is that there is a chance the Fed could wait too long to react to inflation.\n\"Is inflation transitory or something more structural?\" asked Steven Oh, global head of credit and fixed income with PineBridge Investments. \"Will the Fed lose control of it down the road and make a policy error and not have the ability to rein it in?\"\nIf the Fed and bond market are wrong about inflation, the central bank may have to wind down its pandemic stimulus much more quickly than it — and investors — would like. That would mean unwinding its big asset purchases and raising rates sooner rather than later.\nOh doesn't think that will be the case. And many others agree. They argue that investors must keep in mind how rapidly the economy has roared back.\nFor that reason, it should not be that big of a surprise that there are dislocations in the job market and supply chain. It will take time for conditions to revert to what they were like in late 2019 and early 2020 before Covid-19.\n\"There are a lot of questions about inflation because you see it in everyday life,\" said Bryan Koslow, principal of Clarus Group, a wealth management firm. \"But we may have seen the peak, especially in terms of wage growth.\"\nEven if that does turn out to be true, the mere fact that investors and consumers are so focused on prices is noteworthy. Inflation has essentially been a non-issue for more than a decade.\n\"The Fed has to take the inflation concerns seriously,\" said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. He added that he thinks there is a 20% chance that inflation pressures turn out to be more persistent as opposed to transitory.\n\"The risk of meaningful inflation has been non-existent since 2008. Until now,\" Gayeski said.\nWhat's getting more expensive\nFood and paint aren't the only things getting more expensive. As CNN Business' Moira Ritter points out, the prices of just about everything have gone up lately.\nLumber prices have soared. And the housing market continues to boom. That's led to a big spike in the prices of couches and other household furnishings.\nUsed cars are a lot more expensive too. Chalk that up to people returning to work and a dearth of new cars on dealership lots due to the chip supply shortage that has hurt production of new vehicles.\nPeople are traveling more as well. Airfares have shot up in anticipation of what some are dubbing the red hot vaccine summer.\nUp next\nTuesday: US retail sales; US producer price index; Earnings from Oracle (ORCL) and H & R Block (HRB)\nWednesday: Federal Reserve rate decision; US housing starts and building permits; EIA crude oil inventories; Earnings from Lennar (LEN)\nThursday: US jobless claims; Earnings from Kroger (KR) and Adobe (ADBE)","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1552,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":11,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}