Is There Still a Chance for a Soft Landing?

We've been in a globalized unipolar economy, and now with the Russia Ukraine conflict, it seems like we're moving to a multipolar economy. What's accessible that used to be a globalized economy is maybe no longer globalized. And you've got a compartmentalization of what happens within different economies around the globe. The world has a good sort of thought process around this, which is we're kind of in this world of resource scarcity. We're talking about core PCE at 3%. That doesn't sound like a lot of inflation but if you consider the prior trended at 1.6% in the prior decade, we're talking about almost double on a core basis