The economy, as any investor knows or will quickly learn, is not the same as the stock market. What's happening today resembles the Great Inflation of the 1970s. Talk of stagflation, recession, and hard and soft landings—it can make your head spin to see how quickly things have unfolded.

In this week's episode of Global Macro Update, Dr. Ed Yardeni, president of Yardeni Research, joins Ed D'Agostino to discuss today's urgent storylines, as well as the two sectors Dr. Yardeni favors for long-term investors and how turbulent times can lead to a future led by productivity.

To learn more about Dr. Ed Yardeni, you can read his bio here. It includes links to his book publications, a complimentary trial of his research service, and his LinkedIn newsletter.