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U.S. consumer sentiment has fallen to a 74-year low. Brent crude is above $125 a barrel. And several highly credible economists had been warning that inflation was coming back, long before the first missile was fired.
In this video, we look at the structural forces, demographic, fiscal, and geopolitical, that are making inflation much harder to control, and why central banks may no longer have the tools or the political independence to do anything about it.