LOCKED Macro Insiders: In Focus from Julian – Groupthink Fumbles

US CPI printed 7.5% YoY this week. At what may be a local peak, CB attention has now turned to inflation only weeks after we were assured it was all transitory. In this new framework, the risks are rising of pro-cyclical policy manoeuvres. Grist to the mill of the oscillation thesis and threatening an era of boom/bust.

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