Thomas L. Hutcheson (@thomaslhutcheson)

"What doesn’t quite square up with the spike in inflation expectations, interestingly, is consumers’ labor market expectations" I think the uncertainty is the answer. If X is happening you may think Y will result and if Z is happening P will result whether tail risk of both distributions change the central tendency can change in ways that down not accord with either X believers' or Y believers' model. Another way of saying this is the people are fearing" stagflation."