WARSH:
IMPORTANT TO GAUGE EFFECTS OF HIGH GROWTH EXPECTATIONS FOR CAP-EX, CORPORATE EARNINGS
INFLATION EXPECTATIONS TEND TO LOOK DURABLE UNTIL THEY DON'T;
MUST BE CLOSELY MINDED
FED'S 2% PCE TARGET IS FIRM AND FIXED; IT IS FED’S JOB TO DELIVER STABLE PRICES
August 28, 2026 1.5K
