Reposted by Mostly Harmless
JPMORGAN DESK:
“.. my gut is that growing 2% [real GDP] rather than 4%, doesn’t kill structural inflation. ..
.. as I said to one client … ‘7850 to 7700 doesn’t put the inflation genie back in the bottle. Need like 5800. Ok, so maybe it’s 6200. But it’s a lot lower than 7700.’”
