September CPI: 3.7% year over year, 0.6% in a single month. Gasoline did most of the damage, up 9.1% in September and 34% on the year. Then PPI followed: up 1.3% on the month, 6.3% on the year, the hottest wholesale print since March 2022. The pipeline is full, and it points one direction. This is now 67 straight months of US inflation above the Fed's 2% target. The last sub-2% reading was in 2021. A dollar kept under the mattress for those five years buys about 22% less today. That is the qu...