There is a recession coming. No doubt about it.

Overnight, a key measure of US inflation hit another high:

The Federal Reserve’s favorite inflation calculator rose a sharp 0.6% in February and kept the increase over the past year at a 40-year high, explaining why the central bank plans to move faster to raise U.S. interest rates.

The so-called personal consumption price index climbed to 6.4% in the 12 …