2022 is beginning to look a lot like the 1970s. Raging oil prices, hawkish central banks and the mood on the Street point to stagflation, which occurs when an economy experiences rising inflation, slowing growth and increased unemployment at the same time.
A recent fund manager survey by the Bank of America sees stagflation expectation at 66% compared to 62% a month before. This is at the highest level since 2008.
In short, stagflation is the