Clarity in a market of noise.

Building a Portfolio for the 2026 Reality...

Core CPI holds steady while Headline CPI was dragged down by falling energy...

Every economic recovery follows the same script: inflation surges, the Fed tightens, and then everyone waits for inflation to fall back to normal. We're still waiting....

Every housing cycle ends the same way: prices climb until nobody can afford them, sales dry up, and the market freezes. We're not quite there yet, but January's numbers suggest we're getting close....

Wage growth remains well above pre-COVID averages...

Jobs that never were... the weak January print (!)... and a Fed that's stuck....

Milton Friedman said "Inflation is and always will be a monetary policy phenomenon". With December's CPI coming tomorrow, those words are on my mind....