Record Commodity Prices Bolster Case for Fed’s Hawkish Tilt
This article is for subscribers only.
Commodity prices soared to an all-time high, underscoring the inflation concerns that prompted Federal Reserve Chair Jerome Powell to open the door to faster rate hikes to cool the hottest price rises in almost 40 years.
The Bloomberg Commodity Spot Index, which tracks 23 energy, metals and crop futures, climbed to the highest ever level on Wednesday, and has more than doubled from a four-year low reached early in the pandemic in March 2020.