bullish
Global Policy Isn't Squeezing That Tight
Phil has highlighted this Insight as a Top Pick
303 Views25 Jan 2024 01:35
SUMMARY
- Surprising strength was broadly experienced across the flash PMIs for January. Demand growth is rebounding rather than slowing, prolonging inflationary excess demand.
- Unemployment rates should rise with below-potential growth, but they broadly remain below their pre-pandemic levels and have mostly stopped falling rather than risen.
- The failure of tight labour markets to loosen suggests global policy isn’t set far above a neutral level. That should postpone cuts and limit their future extent.
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Discussions
(Paid Plans Only)
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