Our collectivist corporate cronyist overlords at the criminal money printing operation you call the Federal Reserve have hit the overdrive button on the printing presses.
Wal Mart’s CEO explains why you will be paying Neiman Marcus prices at your local Wal Mart.
USA Today reports:
U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday.
The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.
Still, inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. “We’re seeing cost increases starting to come through at a pretty rapid rate.”
CEO Bill Simon from video:
Inflation is an issue, its starting to creep into the business. We saw it start to come in late last year, commodities, certainly cotton. There’s a lot of inflation showing up in dairy. We are starting to see it come into things that are transportation related, like paper. We are keeping an eye on it. It may be something that impacts us later in the year.