Unprecedented spending by both lawmakers and the Federal Reserve to stave off a pandemic-induced market crash helped drive stocks to new highs last year, but Morgan Stanley experts are worried that the unintended consequences of extra cash and pent-up demand once the pandemic subsides could tank markets this year–quickly and abruptly.
Within the stock market, the inflation risk is greatest for industries"destroyed" by the pandemic and"ill-prepared for what could be a surge in demand later this year," the analysts said, pointing to restaurants, travel and other consumer and business-related firms that could be forced to drive up prices if they're unable to meet post-Covid demand.
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