The Fed's new chair wants to strip "outlier" prices from the CPI calculation — right when prices are the highest they've been in years. 4.2% inflation is additive: it stacks on last year's, and Jerremy Alexander Newsome and Dave Conley say rewriting the formula isn't the same as fixing it. Gold and silver just printed a weekly double top after running from $1,700 to near $5,000 an ounce — Jerremy called the reversal in April. The SpaceX IPO at $1.7 trillion — the largest in human history — already pulled 8% out of the QQQ as institutional funds liquidate positions to buy in. In a K-shape economy, the sleeper play isn't chips: it's TJ Maxx, Dollar General, and Five Below.
