Strategist Albert Edwards has revised his inflation outlook, suggesting that rising gasoline prices are now consistent with crude oil prices reaching $150 per barrel. This shift indicates potential for more aggressive rate hikes by the Federal Reserve to curb inflationary pressures. Prediction markets show a 16% probability of crude oil reaching new all-time highs by December 31. The September 30 market remains stable at 1.6%, suggesting limited expectations for immediate price spikes.
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