stagflation

“It is also an incredible inflation hedge, so at times when the market has been going through a bit of stagflation, gold stands out.”

The harvest is stagflation — the combination of higher prices and a shrinking economy — last seen in the 1970s and during the pandemic.

While a recession is forecast to be narrowly avoided, zero growth and high and rising inflation is textbook "stagflation".

This would result in "stagflation," he said, referring to a combination of high unemployment and rising prices.

Stagnant growth and sticky inflation have raised concerns about so-called "stagflation".