A new paradigm for the global economy has formed, and this may mean that inflation and higher interest rates are here to stay.
At least that is what the group of investment experts at Bank of America said this week.
The consumer price index (CPI), which rose 8.2% from a year ago on Thursday, surprised to the upside once again.
Their remarks couldn't have come at a better moment.
The strategists and Ethan Harris, head of global economics research at BofA, concur that the preceding two decades of comparatively slow growth, low inflation, and even lower interest rates
According to some, "fundamental changes" in the labour market and demography, as well as trends like deglobalization and underinvestment