Post by PIMCO

The headlines focus on oil prices, but the economic story is much bigger: The Strait of Hormuz disruption is colliding with lighter-than-expected tax relief to squeeze the U.S. households least equipped to absorb the hit. In the latest Macro Signposts, economist Tiffany Wilding connects the dots – from infrastructure damage and shipping bottlenecks to refund shortfalls and deepening income divergence – to explain why resilient aggregate data is masking what’s really happening beneath the surface of the U.S. economy. Read Now → https://pim.co/0c24f6