Forget The June Fed Pause: Citadel Warns 'Second-Round Effects' Will Force A September Rate Hike

Investors assessing the Federal Reserve's decision to keep interest rates steady this week may be suffering from a false sense of security. According to a global macro strategy report authored by Frank Flight at Citadel Securities, the market is severely under-indexing a looming hawkish pivot. The firm warns that temporary supply shocks are structurally altering the U.S. economy, rendering the June pause a brief int…