Ahead of tariff day, the US economy whiffs of stagflation. It is faint still and mostly in soft data, but difficult to disguise
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https://www.ft.com/content/341accd0-e8bd-4273-ad3e-8c7ee048a6de
My newsletter
https://www.ft.com/content/341accd0-e8bd-4273-ad3e-8c7ee048a6de
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