Nine Point One - with Mohamed El-Erian
Call Me Back - with Dan Senor
00:00
Inflation
The first shock to the inflation was exogenous. Even before the ukrane war, there were supply slight disruptions. There were labor force labor shortages. Companies couldn't secure their inputs. They were having to pay more for labor. That was what's called exorgenous. It came from outside. But if you live through an inflation episodes, and very few people have, because the last bad inflation episode was the seventies and the late eighties. Once that happens, inflation becomes endemic. You get what's called te cost price spiral. Higher prices, yeat to higher costs. And then you've got to do a vulkar and take this economy into a deep recession
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