The 47th President just made some interesting remarks about the economy. He's claiming inflation is basically over now—mission accomplished, apparently. But here's the twist: he's also throwing out a warning about deflation. "You gotta be careful," he said.

Now that's a fascinating take. Most folks celebrate when prices stop climbing, but deflation? That's a different beast entirely. When prices start falling, people delay purchases expecting cheaper deals tomorrow. Businesses cut back, layoffs follow, and suddenly you're in a downward spiral that's way harder to escape than inflation.

For those watching macro trends—especially in risk assets—this matters. Central banks typically prefer mild inflation over deflation any day. The question is whether policy adjustments are coming if deflationary pressures actually build up. Worth keeping on your radar.