Remarks
What Happens After Peak Everything?
The old normal is not the new normal—and believe it or not, that’s good news.
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Everywhere you look, there are peaks. Economic indicators, corporate earnings, commodity prices, even global monetary policy support—all appear to have reached a natural limit and have nowhere to go but down. A loss of momentum after “peak everything” will inevitably trouble investors already worried about the U.S. economy’s staying power and the prospect of higher inflation.
Yet a slowdown is likely to take us to a level that will still be well above the sluggish pace of the pre-pandemic years. Does that mean living with higher inflation? Yes. But it also means a stronger economy.