Questions how offsides the market would be with a stagflationary shock given current comfort with disinflation.
Host
Guest
Agrees market was complacent before current events, sees asset prices high and credit spreads low.
Guest
Identifies inflation as a key risk among negative outcomes, calling it 'the skunk at the party'.
Guest
Lists multiple inflation drivers: medical prices, construction prices, insurance prices, wages.
Guest
Current events will add a little bit, a teeny bit to inflation.