Coordinated fiscal and monetary policy threatens central bank independence and raises the odds that fiscal policy will be overused, igniting inflation. And investors will have a window of opportunity to pick up select real estate and infrastructure investments at recessionary prices.
US companies have some defensible profitability advantages but elevated margin levels may be poised for a reversal of fortune. The tide appears to be turning on some of the secular trends that have supported high US profit margins.
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Infrastructure