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Market Extra: `The inflation genie is out of the bottle” as consumer sentiment takes a hit and Californians pay $12 for a regular burrito

Market Extra: `The inflation genie is out of the bottle” as consumer sentiment takes a hit and Californians pay $12 for a regular burrito

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The highest annual U.S. inflation rate in almost 31 years reverberated across financial markets and in the minds of Americans this week, damaging consumer sentiment, leaving many traders flummoxed, and causing one financial firm to warn that the proverbial “genie is out of the bottle.” Signs of growing inflation worries were seemingly everywhere on Friday, starting with the University of Michigan consumer sentiment index, which fell to the lowest level in a decade.

...read full article on Market Watch

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