The Inflation Problem Nobody Is Watching Yet

August 18, 2026 - Chase Taylor discusses why soaring diesel costs may become a much bigger inflation problem than markets or policymakers are anticipating. He explains how diesel flows through transportation, agriculture, construction, home services and supply chains—and why rising freight costs could eventually show up in prices far beyond the gas station. Chase also examines pressure from oil and long-term interest rates, renewed stress across the AI trade, escalating tensions involving Iran and the UAE, and why today's combination of strong nominal growth and rising transportation costs could make inflation increasingly difficult to ignore.