After feeling like the lone inflation alarmist for the past few months, I find myself in the midst of a growing chorus which now recognizes the Fed’s conundrum. Building inflationary pressures are now obvious to all.
What isn’t clear is whether the Fed’s nonchalance re rising rates is real or feigned. And, if feigned, at what point will they throw in the towel on the sales pitch that rising rates are great?
Futures are back below yesterday’s lows and small H&S patterns have formed on both ES and VIX.
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