The optimism machine is running out of steam

In this week’s Macro & Oil report of the EnergyScan podcast, OG tells us that the prospect of a soft landing for the Western economies, steered by central banks that would manage to keep inflation under control without excessive damage to growth, is receding. What if the Fed’s pause was just misleading, masking a less pleasant reality? Resilient core inflation could force central banks to tighten policy excessively, and the end result could be a recession, as usual.