The Essential Podcast, Episode 36 : Winter is Coming, or Perhaps Not - Stimulus and the Risk of U.S. Inflation

About this Episode

As the outlook for the economic recovery from the COVID-19 crisis brightens, market participants are closely watching the shape and speed of the rebound. While many are concerned about the risk of rapidly rising inflation as the Treasury yield curve steepens, commodity prices surge worldwide, and stimulus money fills U.S. consumers’ pockets, such fears may be overblown. S&P Global Ratings Global Chief Economist Paul Gruenwald joins the Essential Podcast to discuss the risk of unanchored inflation and benefits of orderly reflation in the wake of the U.S.’s $1.9 trillion fiscal stimulus package and proposed $2 trillion infrastructure package. 

The Essential Podcast from S&P Global is dedicated to sharing essential intelligence with those working in and affected by financial markets. Host Nathan Hunt focuses on those issues of immediate importance to global financial markets – macroeconomic trends, the credit cycle, climate risk, energy transition, and global trade – in interviews with subject matter experts from around the world.

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Show Notes

• As the outlook for the economic recovery coming out of the COVID-19 crisis brightens, market participants are closely watching the shape and speed of the rebound. Get the essential intelligence on Rising Inflation & the Post-Pandemic Recovery.
• The recent rise in U.S. Treasury yields, and its spillover into corporate bond yields, indicates greater confidence in a sustained economic recovery, including a normalization of both market functioning and risk pricing. Read Paul Gruenwald's report on reinflation here.