Stagflation is the consensus view for the global economy and stock market in 2023, according to a majority of fund managers surveyed by Bank of America.
Former CKE Restaurants CEO Andy Puzder discusses whether persistent inflation will lead to a weaker Christmas retail season on 'Varney & Co.'
That's according to a recent Bank of America pulse survey, which found that 92% of fund managers expect a period of high inflation and low economic growth next year, while 0% are forecasting a Goldilocks scenario, in which the economy avoids a recession and inflation slows. The responses indicate the stock market could be in for another rocky year after central bank tightening, stubbornly high inflation and the Russian war in Ukraine already sparked a multitrillion-dollar carnage. / Getty Images)could soon pause or slow its rate hikes, the survey indicates that investors do not expect the U.S. central bank to pivot until inflation falls below 4%.as it raises interest rates at the fastest pace in three decades to catch up with runaway inflation.
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