Despite short-term concerns over a rebound in consumer prices, we are not looking at a return to '70s-style hyperinflation - or bellbottoms for that matter.
"I think we can keep the bellbottoms in the closet. We're not going to go back to the inflation of the 1970s," Vendig told TheStreet, noting that while Federal Reserve Chairman Jerome Powell has made clear there could be pockets of inflation as the economy returns to a post-pandemic normal, that productivity is still high and that bond yields, which have spiked of late, will settle down - meaning inflation won't spiral out of control.
So '70s inflation? No. Another Roaring '20s? Maybe.
Watch the video above to hear more about Vendig's views on the economy and interest rates, and how he is positioning his clients' portfolios. Watch the video below to get Jim Cramer's take.