“Bank of England Governor Andrew Bailey says that the cost factors that have driven U.K. inflation to its highest level in more than nine years will fade. Traders in the sterling markets are starting to disagree with his optimism.”
USAGOLD note: Surging price inflation is not just a problem in the United States. The inflation fire has been lit in nearly every country on the planet and that tells you two things: One, it is going to take more than Fed policy to ultimately alter cause and effect. And two, we are courting the possibility of an inflation contagion where higher costs in one nation-state feed into the next …… and so on.