What does inflation have to do with it?
Retail sales are held up by only two sectors. The rest are sinking.
Workers, bondholders, savers get sacked. So what would Yellen do?
A very inconvenient connection.
The “supply shock” in Egypt.
Overall national rent figures hide the drama on the ground.
Gutted Hopes for a Strong Finish.
A “horrifying threat” (lower prices) has been vanquished.
So what would Yellen do?
A collective reckoning? A painful but unavoidable come-to-Jesus moment? Or continuing down an inflationary spiral?