Macro Minutes: Inflation and the 3-Month Rule

In our latest Macro Minutes video, Capital Markets Research Analyst Luke Puetz explains why Fisher Investments believes the recent heightened inflation is likely to fade as the pace of economic growth normalizes.

Key Points

  • Today’s inflationary conditions are most likely short-term, associated with the re-opening of the economy.
  • Inflation can be an end-of-cycle indicator, but we doubt that is the case today because many other bear market indicators are missing.
  • If we are wrong and more bear market conditions begin to develop, losses tend to be minimal early in bears.


*The foregoing information constitutes the views of Fisher Investments based on information believed to be reliable. There can be no assurances that Fisher Investments will continue to hold these views. These views may change at any time based on new information, analysis, or reconsideration.
About Fisher Investments

Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $197 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments Private Client Group International, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 100,000 clients. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 3/31/2022)