Dollar Reset: How Inflation Is Being Quietly Recalibrated

Felix Nikolas Prehn's Podcast · Oct 9, 2026 · 19m · transcript

The dollar reset now under way is not a dramatic redenomination but a slow widening gap between official inflation figures and actual living costs. Felix Nikolas Prehn traces the chain from mortgage rates approaching 8 per cent to the bond market repricing risk at levels last seen before the 2008 crisis. He outlines Bill Ackman's argument that rate rises may be feeding rather than fighting inflation, because AI capital spending and embedded financing costs pass straight through to consumer prices. The episode then examines how the government is changing the PCE calculation method, which one…