Inflation will settle at a structurally higher level (closer to 4% than 2%) over the medium-to-long term due to three secular shifts: the end of cheap goods (peak globalization), the end of cheap labor (quiet quitting, hybrid work, worker power), and the end of cheap energy (Russia cut off European energy supply).
causalpending
Speaker
James BiancoEvidence Quote
“the end of the end of cheap goods because we're at peak globalization, the end of cheap labor, which is what we see now, whether it's quiet quitting or hybrid work or workers have more say and we're getting higher inflation, and the end of cheap energy”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
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