Are We Going to Be in a World of Inflation

Are we in a world now where after 40 years of interest rates making lower lows and lower highs at each successive cycle are we entering into a world where interest rates or inflation start making successive higher highs and higher lows? I think that it really does remain to be seen if the impacts of the of the pandemic really cause a lasting secular change. Some of our demographics are actually contributing to inflation meaning that the fact that so many people left the labor force that were at the high end of the working age population post the pandemic is causing some of these labor shortages, thus leading to more labor and wage inflation. The key question will be does this inflationary episode go from being this exogenous shock

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