Durham Abric – Inflation Outlook and Policy Risks for the Second Half of 2025

In this episode, Durham Abric, Head of US Inflation at Citadel Securities, shares his outlook on US inflation for the second half of 2025, the market's perception of inflation trends, and why tariff-related volatility has yet to be fully reflected in CPI numbers. He examines the Fed's current policy stance, the risks of policy missteps, and how housing market trends and immigration could influence inflation dynamics. Durham also highlights several factors that are shaping client sentiment and explains why long-duration TIPS may be undervalued in client portfolios. 

This episode was recorded on June 25, 2025.