BlackRock's Fink Sees Inflation Lasting for Years

The video discusses the recalibration of the market due to changes in Federal Reserve policies and the impact of COVID-19. It highlights the broad volatility in the market, with energy and commodity companies performing well. The discussion shifts to the persistence of inflation, which is not seen as transitory, and the limited tools available to the Federal Reserve to address it. The video also covers supply shocks exacerbated by COVID-19, global lockdowns, and the Ukraine-Russia war, emphasizing that much of the inflation is driven by significant policy shifts in the United States.

What are the main causes of the supply shocks mentioned in the text?

In what ways has the COVID-19 pandemic affected the economy according to the speaker?