What Do You Think People Get Wrong About the Current Macro Environment?

I think that what you're describing is probably a much longer term thesis. If the US dollar is going to be challenged, it's going to be a long drawn out war. The Fed is not supporting this mini-reflation if you want to call it that. They'll continue to tighten until reflation is no more. And with services inflation running six or seven percent on an annualized basis, a three month resurgence in demand for durable goods is really the last thing they want to see.

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