Rising Inflation Is Not Guaranteed, Pimco's Fels Warns

The video discusses the current market outlook on inflation, highlighting a subdued near-term view due to factors like unemployment and output gaps. It delves into the long-term debate, focusing on potential inflation risks driven by fiscal policy. The speaker emphasizes that while there are upside risks, deflation remains a concern, and fiscal policy's future is uncertain. The overall message is that inflation uncertainty has increased, and investors may not be fully considering this.

How does the speaker describe the current state of financial markets?

What does the speaker suggest investors may not be considering regarding inflation uncertainty?