We've entered a world of zombie inflation. Wall Street is scared witless.
The persistence of inflation caught economists, analysts, and, most importantly, members of the Federal Reserve by surprise.
Tyler Le/BI
What a difference three months makes.
At the end of 2023 and the start of 2024, it appeared that the US was on a glide path to what I termed "economic nirvana": Growth would stay steady, if not spectacular, as inflation cooled off to a more manageable pace. This combination would not only let America continue its four-year expansion but also allow...
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