Blog

As countries ease lockdown measures, the most prominent risk now is that the virus regains traction and forces economies into a second closure, as evidenced by the recent resurgence in the U.S.

There are more than trade tensions to worry about. A surge in price pressures—not in anyone’s forecast, including our own or the Fed’s—could upset the economic/investment apple cart. Two conditions that could push inflation uncomfortably higher are present...