Every time I consider the buffoonery that passes for US energy policy I simply look at Germany to help me recognize that there is someone even stupider. To me the real question is with inflation remaining sticky, when recession comes, will the central banks be forced to cut rates in the front end of the curve? I'm guessing that there will be different responses by different central banks, but that the last cuts will come from Powell and the Fed. As such, I foresee another wave higher in the dollar, recession be damned.
Every time I consider the buffoonery that passes for US energy policy I simply look at Germany to help me recognize that there is someone even stupider. To me the real question is with inflation remaining sticky, when recession comes, will the central banks be forced to cut rates in the front end of the curve? I'm guessing that there will be different responses by different central banks, but that the last cuts will come from Powell and the Fed. As such, I foresee another wave higher in the dollar, recession be damned.