Prices: The Transmission Belt

The Diagnostic Dozen: A Framework for Reading the Macro Cycle (2 of 12)

Lighthouse Macro and Bob Sheehan, CFA, CMT

Feb 02, 2026

∙ Paid

Inflation doesn’t negotiate.

GDP can disappoint and the Fed shrugs. Employment can soften and they wait for confirmation. But if inflation stays elevated, the Fed stays restrictive. There is no discre…

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