Story perspectives
1970s-Style Inflation Looms as Prices Surge Amid Shutdown
10/15/2025
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Story summary
- A potential inflation pattern reminiscent of the 1970s is emerging, according to Peter Corey, chief market strategist at Pave Finance.
- The core personal consumption expenditures price index is 3%, above the Fed's 2% target.
- Oil prices may not spike as they did in the past, given the ongoing government shutdown complicating data.
- Electric prices have surged due to artificial intelligence (AI) data centers and aging infrastructure.
