The Future of Inflation

I do believe that we're going to have a second inflationary impulse. I think the Fed will have to respond and I think this is not imminently, maybe 2025 or 2026. But at some point in the future, we are going to have 10% on tenure notes,. Yeah, in the next couple of years. We haven't squashed it yet. Even though inflation is slowed down, people still have that inflationary mindset. They still expect price increases. And that's why we'regoing to have another wave of inflation in the future.