Success is Vulnerability

Thwarted globalisation undermines good policy

“Our society is dependent on some precarious mechanisms...”Doris Lessing

US stocks have not taken kindly to a possible return of ‘higher for longer’ at the Fed. We await the outcome of the May 1st FOMC with some trepidation. Of course, the outcome may be cause for relief, especially if PCE suggests inflation is ‘beat’. But putting aside recent blips, I’d…