Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The Rabid Capitalist has previously warned its subscribers about the inflationary effects that could result from an escalating conflict in the Middle East. Shipping cost pressure cannot be ignored due to its historic volatility and significant contribution to overall inflation (see https://therabidcapitalist.com/2023/12/16/terrorism-is-a-growing-inflation-threat/). Today’s successful attack on a U.S. merchant marine vessel and the subsequent revised advisory for ships to avoid the Red Sea until further notice will make a major contribution to inflated prices on a broad basis, limit the Fed’s progress on inflation, dash the markets’ expectations for interest rate easing and threaten the soft landing.
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