Biden Needs $50 Oil to Reverse the CPI

If Biden doesn't want a 7 percent CPI, he needs $50-55 oil quick. If he can stomach a few months of 7 percent inflation, he needs $60 oil by February or March. If crude goes higher, the CPI won't come down in time for the midterm elections. I'm not going to be shocked if Jay comes in dovish, nor will I worry. The conditions for Volmaggeddon 2.0 will be in place for Q1 2022, and whatever profit is lost today will come back ten-fold early next year.