How to protect your wealth from stagflation

UK inflation remains stubbornly high. Rising input costs are driving up the price of imported goods, but our incomes continue to be squeezed. The result is stagflation. John Stepek explains what it all means, and how to protect your wealth.

The Federal Reserve's attempt to pump more inflation into the US economy by pushing up asset prices looks as though it might backfire.

Ben Bernanke has already admitted that he's relying on 'the wealth effect' to help consumer confidence. The argument goes that if stock prices are higher, people feel richer, so they spend more money.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.