A new McKinsey report looks at four scenarios for inflation, interest rates, and growth over the next decade. Three of the economic outcomes portend stagnation and stagflation—but one offers hope.
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Banking instability. High interest rates. Pervasive geopolitical upset. These and other headwinds are pressing powerfully against leaders’ and organizations’ attempts to be more productive and create more economic value. In this episode of The McKinsey Podcast, senior partner Sven Smit puts these trends in context. He shares findings from the McKinsey Global Institute’s latest Future of Wealth research with podcast host and editorial director Roberta Fusaro. He offers four potential scenarios for inflation, interest rates, and growth to 2030 and considers their implications for the future health and wealth of the global economy.
Also in this episode, in an excerpt from our Author Talks series, we hear from Farah Stockman, who, in her book, American Made: What Happens to People When Work Disappears (Penguin Random House, October 2021), clarifies our understanding of the working class.
The McKinsey Podcast is cohosted by Roberta Fusaro and Lucia Rahilly. This transcript has been edited for clarity and length.