US inflation had hit 40 years high!

CPI: 8.5% and Core CPI:6.5%

Where was the inflation found? Mostly in energy!

Let's look at the inflation breakdown.  Most of the inflation factors were caused by supply, logistic, and labour shortages and not demand-side issues.

The existing monetary policies are only effective in solving demand-side issues and ineffective in resolving supply-side issues.  Therefore, the continual rate hikes will reduce consumer demand without resolving the supply and logistic issues.  This brings to mind the next question: Slow growth and high inflation = Stagflation?

Let's take a look at the global fund manager survey again.  Stagflation expectations are rising!

The global growth optimism is at its trough.

The biggest risk to investors: Global recession!