Anchor Capital says US inflation rebound reflects supply shocks, not demand surge
Anchor Capital flagged US PCE inflation rising to 3.7% YoY in July, driven mainly by supply shocks, not demand. Limited evidence of second-round effects; wage growth moderating, unit labor-cost growth about 1.4% YoY in 2Q26. Longer-dated breakeven inflation expectations stayed range-bound, reducing risk of a sustained