Fed Officials Sound Alarm: Inflation Spreads Across Economy as Diesel Hits Record Highs

• Inflation: Too high across all sectors, not just oil
• 10-Year Treasury Yield: 4.93%, up 74 bps YTD
• Diesel Price: Record $6.51/gallon, up $2.80 YoY
• Fed Stance: Hawkish, rate hikes continue

The Checkup

Two Fed officials drove the narrative this weekend: Minneapolis Fed President Kashkari warned that inflation has spread beyond oil into "all aspects" of the US economy, while Chicago Fed President Goolsbee added that demand, tariffs, energy, and supply...