Our Chief Investment Officer Jeff Casson and Portfolio manager George Bell discuss the Federal Reserve's conundrum as they try to bring inflation down to their targets, amidst an economic backdrop of real wage growth and broadening economic growth across multiple sectors. Also a recent pivot on interest rate cut rhetoric from Jerome Powell, Chair of the Federal Reserve, contrasts to Andrew Bailey, Governor of the Bank of England’s comments. What does the divergence in policy expectation on interest rates mean from a portfolio perspective?