Justin Sullivan/Photographer: Justin Sullivan/Ge

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• Key insight: The relationship between stocks and bonds demonstrates that the driving force behind the U.S. economy has shifted from the demand side to supply, according to recent analysis by the Federal Reserve Bank of San Francisco.
• Expert quote: “Recent uncertainty in oil markets has also been associated with higher oil prices, which is a stark change from the previous decade. Consequently, policymakers may face more frequent supply shocks as well as an uncomfortable combination of elevated inflation with softer economic activity in the near term.” — Thomas Mertens and Wesley Wasserburger, Federal Reserve Bank of San Francisco researchers
• Forward Look: A…