BOA Excerpt: "One path to 2% inflation, one hundred paths to 5%"

Excerpted from their latest RIC Analysis

The consensus priced now into markets assumes a steady decline in inflation, which could be disrupted by any number of “imperfect endings” to the story:

• The US-led coalition has been ineffective so far in stopping Houthi attacks on cargo ships in the Red Sea. 28% of world container trade passes through the Suez Canal. Container prices have spiked 90% in recent weeks.