ChainThink reports that on March 10, Jim Reid, Head of Research at Deutsche Bank, stated in a recent research report that the current trajectory of the global energy market bears "striking similarities" to the macroeconomic pattern preceding the second oil crisis in the 1970s: both periods occurred four to five years after major inflation surges, with both epicenters pointing to Iran. The report notes, "Whether history repeats itself depends entirely on the duration of this conflict."
However, Deutsche Bank noted that in the late 1970s, inflation expectations spiraled out of control, and the second oil shock ignited a wage-price spiral, forcing central banks to adopt aggressive monetary tightening. Today, even after the inflation surge of 2022–23, long-term inflation expectations remain remarkably stable. (Wall Street Journal)