CHART OF THE DAY: Gas Prices → Inequality Wedge?

If someone is politically inclined and wants to use our economic and market-timing tools to augment the rigor of their political opinions, all the power to them!

One example of this from a meeting yesterday (where the client clearly did not like Trump) was a Portfolio Manager concluding that: 

A) If we’re right and the US economy continues to slow into Quad 3 into a Presidential election year … and
B) If further #GrowthSlowing means the Fed has to get more dovish (from here) in kind to inflate asset prices…
C) Then cost of living (gas prices) is going to drive the “inequality” wedge in America deeper and deeper