Are We Fated to Stagflation?

Published on
July 21st, 2022
37 minutes

Are We Fated to Stagflation?

Daily Briefing ·
Featuring Maggie Lake and David Woo

Published on: July 21st, 2022 • Duration: 37 minutes

The European Central Bank announced an expectations-beating half-point interest-rate hike today, at the same time introducing a “tool” to ensure borrowing costs in vulnerable economies don’t spiral out of control, as central banks continue to fight inflation. Weston Nakamura drops in at the top of today’s Daily Briefing for an update on the Bank of Japan’s divergence from its peers, coining the phrase “yield spread control” to highlight a critical split at the heart of the global financial system. And former IMF economist and Wall Street strategist David Woo, now writing at, joins Maggie Lake to talk about the ECB, softening U.S. economic data ahead of next week’s Federal Open Market Committee meeting, and the implications of a crumbling Chinese credit market. Are we fated for a stagflationary future? David and Maggie address that question and many more as the countdown to Fed Week continues. If you would like to follow David Woo’s work: