More on war and interest rates

My own view is that this is wrong. I do not think that the Fed is done. It needs to short-circuit the stock market reflation for starters. Wage inflation is still strong and labour hoarding likely. 

But there is a deflation tsunami approaching from China, commods and the reverse bullwhip effect as inventories reverse. 

Whether inflation is a structural issue after that is an open question but the cycle takes precedence.

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