The Inflation Endgame: What Happens After the Last Hike
Central banks have nearly won the inflation fight. The next phase is about who absorbs the hangover.
Disinflation without a recession — so far
Supply chains healed, energy prices normalised, and headline inflation has retreated to targets across most of the developed world. That is the good news.
The bill is deferred: higher real debt loads, squeezed margins and a consumer that has quietly traded down. The debate now is whether soft-landing rhetoric survives the rate-cut cycle.
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Central banks have nearly won the inflation fight. The next phase is about who absorbs the hangover.
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