RNRG - The Macroeconomic Case For Disinflation Remains Strong

• The U.S. has experienced three months in a row of elevated - and rising - consumer inflation rates.
• Monetary policy has broken down and is scarcely able to translate central bank actions into the Main Street economy.
• Fiscal policy is more unproductive than productive, and the more the government spends, the less productive the overall economy becomes.
• We remain in a "lower-for-longer" environment.

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