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Jonathan Golub, Chief U.S. Equity Strategist & Head of Quantitative Research, Credit Suisse

Alpha Exchange

CHAPTER

Is Inflation a Factor That Helps Explain Returns?

When inflation started to peak up, everyone and their mother who looks at stocks said this is going to be terrible for corporate profits. What happens almost always when you have a pickup in inflation-like we experience is that the price of the things we buy in the store or the services that we consume go up much more quickly than the change in wages. And companies now they're getting squeezed. They're paying more to the workers and they're not getting as much. So it's a relatively difficult environment for corporateprofits. Here's kind of the weird one: We're going to find I think the consumer is going to feel very empowered but there's lots of jobs for them too.

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