In Through the Out Door

Memo From the Chief Economist

What’s in this report: Why inflation is not going to be sticky; why we are not going back to the 1970s; why “higher-for-longer” has the same shelf life as “transitory”; and why we are adding duration (the crowd goes “hush...”) to the bond portfolio.

Good grief, I feel like I am watching sequels to the same movie.

• At the 5.2% cycle lows in the 10-year Trea…