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Bloomberg/Shawn Donnan, Rich Miller, Jana Randow and Philip Aldrick/3-9-2022
“A historic surge in commodity prices after Russia’s invasion of Ukraine, coming on top of already-high pandemic inflation, has gotten investors and economists searching for parallels with the energy shocks of four decades ago and the prolonged slowdowns that followed.”
USAGOLD note: This article argues that a 1970s-style staglfation is avoidable – but not all that convincingly. The ‘prolonged’ slowdowns mentioned above, we would add, did not occur until after the Fed put interest rates well above the inflation rate.
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