Great Inflation Resurgence

Thomas Harr is Chief Economist and Assistant Governor at Danmarks Nationalbank, which is Denmark’s central bank, and manages the economic and monetary policy department. Before joining the central bank in 2021, Thomas worked in investment banking for more than 16 years, including roles as Global Head of Research at Danske Bank and Head of Local Market Research at Standard Chartered in Singapore. Thomas holds a master’s degree in economics from the London School of Economics and a PhD in economics from the University of Copenhagen.Callum Henderson is Senior Director, Economic Analysis for CDPQ, Canada’s second-largest pension fund, based in Singapore. Prior to joining CDPQ, Callum worked in banking for 17 years, including roles as Global Head of FX Research at Standard Chartered Bank and Head of Emerging Market Research at Bank of America. Callum has an MA in Middle East Politics and Economics from the University of Exeter, a DEF in French Studies from University of Tours, and a BA in Politics, French and Economics from the University of Sunderland.

• Introduction.- Chapter 1: Back to the future – The return of inflation in the 2020s.- Chapter 2: Fundamentals – A primer on what drives inflation.- Chapter 3: The US – Pandemic recovery and fiscal bazooka.- Chapter 4: Europe – Same, same, but different.- Chapter 5: Asia – This place is different.- Chapter 6: Global – Similarities and differences across US, Europe, and Asia.- Chapter 7: The inflation debate: The view from a central banker vs. a market practitioner.- Chapter 8: From the Great Moderation to a multi-polar and climate-risk world.- Chapter 9: Lessons learned from the great inflation resurgence.- Chapter 10: Lessons in markets.- Concluding remarks.