What are the risks of a stagflation scenario as observed in the 1970's?

 What are the risks of a stagflation scenario as observed in
the 1970's? 

· What are the common factors,
comparing today to the 1970s? 

· The current environment differs from
the 1970s in several ways - what are they? 

· What are the risk factors to
consider in today's economic environment?  

· Why we believe ultimately that a
sustained period of stagflation is unlikely now. 

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