- Debt repayments are entering a level similar to 1990s due to high rates and debt, meaning the government will eventually have to use inflation to reduce it.
- Trump's hostility to energy and housing, two primary drivers of inflation
- Tariffs
- Deportations of farm workers
Inflation expectations according to surveys and rates markets are back up to 2021 levels.
The only thing pushing against inflation is a relatively strong real economy, which isn't guaranteed to last if the tariffs and deportations happen.
- Debt repayments are entering a level similar to 1990s due to high rates and debt, meaning the government will eventually have to use inflation to reduce it.
- Trump's hostility to energy and housing, two primary drivers of inflation
- Tariffs
- Deportations of farm workers
Inflation expectations according to surveys and rates markets are back up to 2021 levels.
The only thing pushing against inflation is a relatively strong real economy, which isn't guaranteed to last if the tariffs and deportations happen.