In 2024 services inflation has proven more stubborn, headline US labour data remains strong, and commodities have recently ticked up. Interest rate cut expectations have been revised down and their commencement pushed back.
The probability of recession arriving, and inflation re-accelerating have both being revised up, discussed in full within our Snowgum Quarterly.
This quarterly also takes a walk down memory lane, looking at similarities to 1948 and offers up some killer dinner party conversation fodder... the 'kinked Phillips curve' framework, in our deep dive into labour markets.
