But what the Federal Reserve can do is they can say we're going to scale back our purchases of treasuries.

I think the yield curve will steepen.

And is that going to cause a correction at some stage for the stock market?

Yes. I think there's always a vulnerability to a correction.

Welcome to the Barron Streetwise Podcast. I'm Jack Howe. The voice you just heard is David Kelly.

He's the chief global strategist for J.P. Morgan Asset Management and he's talking about inflation. Now I know inflation sounds

like a snoozy topic. It's much more exciting to talk about whether Tesla stock will

hit a scagillion, but there's a key link between the low

inflation we've seen in the US over the past decade and rip-roaring gains for

stocks. And lately I'm hearing from a number of people who expect US inflation to pick up soon.

So what will that mean for stocks?

More on that in a moment.

And don't worry if you don't know what the yield curve is and what David means when he talks about it's steepening.

Lace up your hiking boots and stretch your calves.

We'll climb that yield curve together and figure it out.

Try to stay hydrated. I'll keep an eye out for bears. I'll keep an eye out for bears.

With me remotely is our audio producer Meta.

With me remotely is our audio producer, Meta.

Hi Meta.

Hey Jack.

Meta, can I do an entire episode on inflation without putting anyone to sleep?

And quick follow-up question question are you still awake?

...