Stagflation debate is just a 'massive distraction,' RBC's Porcelli says
Source Financial Post
"Forget about these words - transitory and stagnation - all these words are a massive distraction," Porcelli, chief U.S. economist at RBC Capital, said Tuesday in an interview on Bloomberg TV's Surveillance. "If your question simply is growth going to slow next year, the answer to that is a resounding yes. You cannot maintain 6 per cent growth."
Porcelli said his "word of caution" is more focused on the "stag" as opposed to inflation. His firm is projecting about 4 per cent growth for the U.S. in 2022. "Is that really growth stagnating?," he asked. "You're wildly above potential growth."