Andrew Sheets: Inflation - When to Turn Down the Music?

Thoughts on the Market

Morgan Stanley

Business, Alternatives, Equities, Macro, Markets, Strategy, Investing, Global, Economics, Fixed Income

4.8 • 1.4K Ratings

🗓️ 26 March 2021

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

The expectation of increased inflation is stirring concerns among investors, but the actual market for expected inflation suggests the Fed is on the right track.

Transcript

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0:00.0	Welcome to Thoughts in the Market.
0:04.0	I'm Andrew Sheetz, Chief Cross-Assist
0:05.8	Strategist for Morgan Stanley.
0:07.4	Along with my colleagues bringing you a variety of perspectives,
0:10.1	I'll be talking about trends across the global investment
0:12.7	landscape and how we put those ideas together.
0:15.0	It's Friday, March 26th at 1 p.m. in London.
0:19.5	From March of 2020, the investment debate
0:21.5	centered on whether rallying markets were too optimistic
0:24.3	about an economy still racked by the COVID pandemic.
0:27.2	But following the passage of the 1.9 trillion
0:29.4	American Rescue Plan and an accelerating pace of U.S.
0:32.5	vaccinations, a very different debate is now emerging.
0:35.6	Looking ahead, will the economy get too hot?
0:38.4	Stronger economic growth can bring complications.
0:41.0	If everyone tries to buy a car, get a haircut,
0:43.6	or go on vacation at the same time,
0:45.3	the prices of these items can rise sharply,
0:47.8	driving inflation.
0:48.8	Businesses might mistake this jump into demand
0:51.0	as something sustainable and over-invest
0:53.0	in either new capacity or inventory.
	...

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