INFLATION ALARM: Fed warns of HIDDEN danger behind rising prices

• Cleveland Fed President warns of an 'inflationary mindset' becoming entrenched due to persistently high inflation.
• Real wages are being bitten by rising prices, but consumer spending remains resilient despite poor sentiment.
• Debate on Fed's next rate hike: waiting for more data vs. potential political influence ahead of midterms.
• Global auto sales show gas cars falling below 50%, sparking discussion on Tesla, EVs, and hybrids.

The discussion centers on persistently high inflation, with the Cleveland Fed President warning of an 'inflationary mindset' becoming entrenched. Panelists debate the impact on consumers, who are seeing real wages decline despite continued spending. The Fed's next steps are uncertain, with some arguing against rate hikes before more data, while others question political influence. Tesla and EV sales are also briefly discussed.