The 6-month Treasury yield sees Fed on hold in December. Cutting rates as inflation accelerates is a delicate operation that the bond market isn’t fond of.
The Supreme Court could strike down a portion of the tariffs, but the Administration sees similar tariffs under different Acts. “You should assume they’re here to stay”: Bessent.
Corporate profits, after exploding in the high-inflation era, fell this year. Tariffs are very difficult to pass on after the price spikes in 2020-2022.
