Jerome Powell just revealed a hidden reason why inflation is staying high: The economy is increasingly UNINSURABLE!

Troublesomely high inflation rates may have an overlooked metric at their source: soaring insurance costs.

“Insurance of various different kinds — housing insurance, but also automobile insurance, and things like that — that’s been a significant source of inflation over the last few years,” he said.

• On Tuesday, data from the Bureau of Labor Statistics showed that its metric for auto insurance, which covers physical damage, liability, and miscellaneous insurance coverage for private passenger vehicles, increased 20.6% over the past year...
• Meanwhile, a study from S&P Global Market Intelligence found that homeowners' insurance jumped 11.3% in 2023...
• In some of the highest-risk areas, insurance companies have even stopped providing their services altogether...