The Specter of Scarce Supply
Last year, the global economy stopped with a disinflationary whimper and this year it is restarting with an inflationary bang. To an extent, the whole process is unprecedented, and therefore unpredictable. Still, it’s no wonder some are haunted with memories of the Seventies. With that in mind, this week we look for evidence of the bottlenecks plaguing the economy and take a first stab at understanding their inflationary implications.Plus "The Week Ahead," a preview of next week’s potentially market-moving events.