- August 21, 2022
- Posted by: Stratford Team
- Category: Economy
In an interview on Aug. 17, Michael Spence, Nobel laureate and both a professor and dean emeritus at the Stanford Graduate School of Business, discussed prospects for the US, Chinese and European economies and the consequences of China’s slowdown for the world.
Spence, who is a senior adviser to General Atlantic LLC and chairman of the firm’s Global Growth Institute, also gave his view on the biggest risks facing the global economy.
Here’s a partial transcript of highlights from the interview, lightly edited for brevity:
U.S. economy
Q: Has inflation peaked?
A: Overall, I think inflation has peaked but it may not settle down at an acceptable level anytime soon. There are different degrees of transitoriness if I can put it that way. A spike in a whole variety of commodities will likely abate as the system adjusts.
But we have very major changes in labor markets and in the configuration of the global economy. We went through more…
