The fracas in the Red Sea is a reminder how brittle supply chains are in an era of heightened geopolitical tensions
But it’s not only supply chains. Leading indicators for wages, profit margins, house prices, food and several others show that disinflation will soon peter out, and inflation is set to begin rising again next year
The Fed, with its assertive dovish swing, has backed itself into a corner – and may find itself cutting rates just as inflation is bottoming …
