Markets Plunge on Surging Inflation; Celsius Pauses Withdrawals

Nothing is ever priced in and the past week has validated that thesis yet again. Fears about growing inflation were rekindled as the US Labor Department announced that the Consumer Price Index (CPI) reached its highest level in May (8.6%). This outstripped several economists predictions, who forecasted a slightly more conservative value at 8.3%, according to a Wall Street Journal survey.  While expectations from reality do differ by a marginal amount, May 2022 marking the highest reading since December 1981 does represent a wake-up call, reaffirming fears of an imminent global recession.