David Osman of the IRF Podcast is joined by Manoj Pradhan, the Co-Founder of Talking Heads Macro, to discuss ‘Demographics will Reverse 3 Multi-Decade Trends.’

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There is a growing concern that the Covid-19 pandemic could mark the dividing line between the deflationary forces of the past 30-40 years and resurgent inflation. Manoj discusses the three key demographic trends that will almost inevitably reverse three multi-decade trends and the reason why inflation and the direction of inflation is about to change as demography changes too. He explains how demographic changes will impact on wage growth and consumer price inflation and the impact they will have on equality and also on real interest rates. He gives an insight into what this will mean for US dollar exchange rates and whether the current situation will lead to a currency war. Manoj thinks the pandemic has accelerated and fast tracked a lot of the trends and explains why he believes that markets and policy makers will be wrong regarding inflation going forward.