Shepherdson: Adding Stimulus to Base for Inflation Shock

The transcript discusses economic growth projections under Trump's administration, focusing on GDP expectations and the potential impact of stimulus. It highlights recent economic improvements unrelated to Trump, such as the recovery from falling capital spending in the oil sector. The conversation shifts to potential inflation issues and market surprises, noting the current economic conditions of low unemployment and rising wages. The discussion concludes with the implications of tax cuts and increased spending, which deviate from typical economic prescriptions at this stage of the cycle.

What does the speaker mean by 'the acceleration, the convexity of inflation'?

What are the implications of the unemployment rate and wage growth discussed?