On 30 April , we reported about inflation, massive government spending, and the reopening economy. As we wrote: Alleviating supply chain bottlenecks and rebuilding inventories across more sectors as the economy starts moving back to normal is causing only “transitory” inflation in the Fed‘s perspective. If the Fed is right, it is a smooth transition of the COVID economy. If not, they’ll have to revisit their outlook for holding interest rates steady until 2023 and the economy could be more of a roller coaster.  At yesterday’s meeting, they started the process of possibly revisiting their outlook. That was one of their so-called dot-plot meetings, which refers to a chart the committee issues wit...

TAGS – North America