Be aware if you have been expecting interest rate cut this year: Ocean freight that may have contributed to a chunk of inflation during 2021-2022 have staged a come back. Looking back the past few years, the correlation between freight-to-cargo ratio and US inflation averaged 74%. The take-off in May 2020 and peak in July 2022 of the two lines coincide with each other while the flooring of the freight-to-cargo ratio led the US inflation by few months. The swing from May 2020 to July 2022 for t