Stagflation is a growing threat to the global economy – The Australian Financial Review

Moreover, investments in infrastructure will increase not just demand but also supply, by expanding the stock of productivity-enhancing public capital.
But, of course, even accounting for these dynamics, the bulge in private savings brought by the stimulus implies that there will be some inflationary release of pent-up demand.
A second, related argument is that the US Federal Reserve and other major central banks are being excessively accommodative with policies that combine monetary and credit…

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