Powell’s Crash Landing

Powell’s Crash Landing
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing, on Capitol Hill in Washington, on March 3, 2022. Tom Williams/Pool Photo via AP
Michael Pento
Updated:
Commentary 

Wall Street, we have a margin problem. Shares of Target (TGT) fell by 25 percent on Wednesday, May 18 as their margins shrank by the same amount. TGT margins collapsed due to higher input costs, overstocking, and overstaffing. So much for the mantra that stocks are a great hedge against inflation. In reality, inflation is destroying American corporations, the economy, and the middle class.

Michael Pento
Michael Pento
Author
Michael Pento is the President and Founder of Pento Portfolio Strategies. He produces the weekly podcast called “The Mid-week Reality Check.” He's also the author of the book “The Coming Bond Market Collapse.”
Related Topics