2024-04-19 02:15:00 ET
Summary
- The March CPI release was, in retrospect, the one that apparently convinced the Fed and the market that "disinflation has stalled."
- "Higher for longer" is now the interest rate mantra that is driving the market; it's made people nervous, so an equity market correction is underway.
- You won't be surprised to learn that I disagree. I still think the great inflation bubble that started three years ago has long since popped.
I've only recently returned from several weeks in Argentina. I didn't have access to my charts, and besides, I was rather more interested in people, food, and wine than in blogging. Time now to catch up on the market's latest focus: Is inflation still stubbornly high? Does the Fed need to tighten more?...
Read the full article on Seeking Alpha
For further details see:
Belated March CPI Analysis