Pimco's Fels Warns Rising U.S. Inflation a 'Head Fake'

The video discusses the current economic situation, focusing on inflation trends, bond yields, and the impact on the tech sector. It explains that the current inflation spike is temporary and influenced by one-off factors. The discussion also covers the potential effects of a large infrastructure spending package and how it might not be immediately inflationary due to its gradual implementation and tax financing. The Federal Reserve's approach to tapering and rate hikes is also analyzed, with expectations of tapering starting next year and rate hikes possibly in 2023 or 2024.

What factors are contributing to the expected rise in inflation over the next few months?

How does the speaker describe the current inflation situation?

What is the speaker's view on the relationship between bond yields and the tech sector?

What are the reasons given for why a large infrastructure spending package may not be inflationary?

How does the speaker characterize the expected net effect of the infrastructure package on the economy?

What does the speaker predict about the Fed's actions regarding tapering and rate hikes?

What is the speaker's outlook on inflation and employment in the coming years?