According to @KobeissiLetter, the Federal Reserve is set to cut interest rates even as inflation rebounds, a setup the stock market will favor with a risk-on response. According to @KobeissiLetter, wage growth will lag inflation in this environment, meaning asset owners are positioned to benefit while non-owners face eroding real incomes. According to @KobeissiLetter, the result mirrors the post-pandemic dynamic where the wealth gap expands as asset prices rise faster than wages.