By 1969:
• Wage growth accelerated
• Commodities surged
• Inflation re-ignited
The Fed reversed course aggressively too late.
What followed was stagflation: high inflation, weak growth, collapsing real returns.
By 1969:
• Wage growth accelerated
• Commodities surged
• Inflation re-ignited
The Fed reversed course aggressively too late.
What followed was stagflation: high inflation, weak growth, collapsing real returns.