Surging CPI Slams Stocks & Bonds As Rate-Cut Hopes Evaporate, Gold & Bitcoin Bounce Back

Consumer prices surged more than expected this morning (accelerating for the seventh straight month) crushing the hopes and dreams of The Fed's 'path' to 2%. NOTE that the House GOP also issued a budget resolution today indicating they plan to add another $3-4 trillion to the debt... which is unlikely to help the inflation outlook....