Tom Stevenson, Investment Director at Fidelity International, is today’s FidelityConnects guest. He was a frequent guest on our shows last year, and we’re happy to have him back in this first week of 2022. Host Pamela Ritchie asks Tom about the most pressing themes he is seeing right now, and Tom will dive into inflation, central bank reactions, valuations, the earnings cycle, and of course COVID and the recent Omicron wave. Tom believes 2022 is the year the world learns to live with COVID, rather than trying to eliminate it outright. Tom explains that inflation will probably peak and fall off, and earnings may drop off from last year’s recovery rally. He also is intrigued by current central bank responses, noting in the U.S. there is a difference between what the Fed thinks it can do, and what the market thinks it will do.

Recorded on January 5, 2022.