Implode-o-Meter News - Hugh Hendry Shuts Down His Hedge Fund; Predicts Inflationary Surprise

In the middle of 1964, CPI core inflation was running at 1.7% and indeed dropped to just 1.2% in 1965; unemployment was 4.5%, the same as today. And yet by the end of 1966 inflation had essentially got out of control and didn't dip below 2% again until 1995, almost 30 years later.
...
if an inflationary path like 1966 is gestating then I fear there is very little chance that anything timely will be done about it. Rate hikes will continue to be sparse, we only have one quarter point hike predicted between now and the end of 2019, which if fulfilled will be highly unlikely to spark a severe recession. Most likely the US economy will continue to grow and the labour market will tighten making a larger adjustment to rates in the future inevitable.

Relevant:

Hugh Hendry Shuts Down His Hedge Fund; Predicts Inflationary Surprise