Albert Edwards Notices “Something Shocking” In The “Transitory vs Persistent Infla …

albert edwards notices something shocking in the transitory vs persistent inflation debate

Sumary of Albert Edwards Notices “Something Shocking” In The “Transitory vs Persistent Inflation” Debate:

  • Normally in a recession as demand collapses it takes many years for the output gap to return from disinflation/deflation-inducing negative territory back to zero, and then beyond that into positive (inflationary) territory.
  • Indeed, this is an observation also made by Morgan Stanley over the weekend, when the bank’s Chief Cross-Asset Strategist Andrew Sheet noted that this has been a remarkable cycle in that we went from Downturn to Repair and then directly to Expansion without spending the requisite 35 or so months in the Recovery phase.

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