Inflation is playing a dual role at present. First, as a driver of spending that is boosting the cost of living via higher energy prices. Second, as a reflection of the momentum in the underlying cycle. Central banks are taking note of both, but it's the latter that will have staying power and is thus fueling their hawkish shift.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on 14 May 2026.

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