Stagflation Hits the K
Slowing growth and higher prices equal “stagflation,” the worst of all possible economic worlds for policymakers (the Fed) and for those persons in the bottom leg of the K.
March 18, 2026
David R. Kotok co-founded Cumberland Advisors in 1973 and during his career served as its Chief Investment Officer, CEO, and Board Chairman. Today, he serves as a Strategic Advisors to the firm and continues to write regular commentaries, author books & pamphlets, and speak at public events. David holds a B.S. in economics from the Wharton School of the University of Pennsylvania, an M.S. in organizational dynamics from the School of Arts and Sciences at the University of Pennsylvania, and an M.A. in philosophy from the University of Pennsylvania.
Slowing growth and higher prices equal “stagflation,” the worst of all possible economic worlds for policymakers (the Fed) and for those persons in the bottom leg of the K.
Climate change mitigation in America was officially reversed on February 12, 2026. The Trump-Vought-Zeldin policy is officially announced. There are known & unknown consequences. One of them could be a killer.
No one can forecast the outcome in the short term. Guess? Yes. Multiple scenarios? Yes. Forecast with confidence? No! But there is history for guidance.
David R. Kotok’s financial market commentaries have appeared in publications including the New York Times, the Wall Street Journal, and Barron’s, and he has appeared on Bloomberg TV, Bloomberg Radio, Yahoo Finance TV, and other traditional & digital media outlets. He also shares his perspective on his own YouTube channel: youtube.com/@David-R-Kotok
