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Macroeconomic & Geopolitical

Inflation Hits a Fork in the Road

13 December 2021 - 3 min read

A great divergence is coming into view on inflation, with the U.S. set to stand apart.

Price data formerly known as transitory was supposed to be a function of base effects and shipping bottlenecks. The role of demand was underappreciated, and it came roaring back in the U.S. due to unprecedented levels of fiscal support and surging incomes, adding to reignited animal spirits, with consumers eager to celebrate life without constraints.

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