The Outlook for Inflation for 2023

I think the 1970s playbook is still intact. If we compare the actual inflation cycle that we're in right now to what happened in the 1970s, we have a playbook for what could happen in 2023, 2024 and onwards. My best guess is that we will see a sharp deceleration in inflation in the US towards a level of 2 to 3% in 2023 - maybe even a tad lower. So that leaves me with a very clear outlook on inflation for 2023. The Fed will likely start easing. And we should probably also expect fiscal stimulus to resurface as a consequence of it. That leaves me with sort of a bitter taste in my mouth when I look at the