DRUCK PULLING UP THE ANCHOR

Why Wall Street is about call the Fed's bluff about inflation expectations

Well, that didn’t take long.

Last week I wrote:

I hate to tell it to these pundits, but the Fed wants business to compete for labour. They aren’t going to raise rates to stop this trend before it even starts.

We are entering a long period when labour’s share of GDP rises. Most of Wall Street will be against this. After all, they represent capital. The ar…