In today’s Macro Minute, Darius breaks down whether inflation risks could push markets from violent chop into a deeper drawdown. His answer: unlikely. January CPI reinforced the disinflation trend, with housing and labor pressures cooling and AI-driven productivity poised to shave roughly 50 basis points off trend inflation over time. He also explains why the recent volatility reflects accelerating AI diffusion—not systemic breakdown—and makes the case for disciplined risk management over emotional “hodling,” emphasizing that managing downside is the key to compounding capital over full market cycles.