The Secular Inflation Narrative

The key takeaway here is that we've built e dynamic factor model that takes into account all the mazor drivers of inflation, both to the up and down ofr the last few decades. And ultimately, our math suggests that the stationary mean of c p i, of inflation time series in the us. Economy, transposes itself around 60 to a hundred basis points higher. That has a material impact as it relates to your acid alocation. The slides kind of going through, you know, 59 all the way through, kindo 77, really summarizer our longer term views on inflation.