INFLATION WATCH: A lot of Wall Street is modeling out oil at $100 a barrel or more to feel the feed through to input prices. But if you take a huge step back, we’ve been living in a world with sub-$70 oil for long enough that even prices above $90 will be felt by consumers at the pump. That’s going to matter, particularly given a K-shaped economy, and it’s going to last for a while longer. Brent ended the week above $110 — as we enter week four of the Iran war.