Title context: Text: Is It Difficult for the Fed to "Front-Run"? As Expectations for a 50-Basis-Point Rate Hike Heat Up, Societe Generale Says the K-Shaped Economy Limits Policy Space

Zhitong Finance APP has learned that Societe Generale strategist Manish Kabra believes the inflation challenge facing the Federal Reserve is morphing: the problem is no longer that demand is too hot, but that American consumers have split into two economies. Credit card delinquencies have risen to the highest level since the 2008-09 financial crisis, while mortgage delinquencies remain near cyclical lowsthe same policy rate must serve both groups at once.