In the coming months, the Fed will not likely pivot, but pause and wait with a high level of rates for convincing signs of disinflation.
Demographic shifts and labor imbalances might have disturbed consumption-saving decisions that impact inflation.
While munis suffered a bad quarter to start 2022, brighter days may be ahead amid strong fundamentals.
In a supply-constrained world, reducing asset prices may be the only way for central banks to bring demand and inflation lower.
China boosts fiscal spending to support its growth target in 2022 amid lockdowns in Shanghai and other cities.