On today's Macrocast episode, Ylan, John, and Brendan cover the Federal Reserve's unexpected policy shifts, the implications of inflation on retail sales, and the current state of the oil market. They delve into the everyday effects of inflation on retail sales, questioning whether a decrease in inflation would strengthen or weaken consumer spending. They also note that the Fed appears to be simply keeping up with rapidly falling inflation, a win for those on "team transitory."  In their quest to decode the 2024 economic forecast, the group touches on the Bank of England's rate hike and approach to inflation and scrutinizes the oil market, exploring the implications of record-high U.S. oil production. They also note the uncertainty surrounding the Fed's interest rate cuts, contemplating the potential for a financial crisis or pandemic to push rates back to zero. Tune in to hear more!