Labor markets around the world tightened during the pandemic, contributing to a rapid rise in inflation. Demographic changes could make tight labor markets a lasting characteristic of the global economy. Most of the world’s biggest economies are home to an aging citizenry, while their populations are growing at a slower rate overall. These trends have the potential to alter market dynamics in the decades to come. Katharine Neiss, PGIM Fixed Income’s Chief European Economist, and Charles Goodhart, Emeritus Professor at the London School of Economics and author of The Great Demographic Reversal, join us as we explore the inflationary effects of demographic changes, the implications for monetary and fiscal policy, and how aging populations could reshape the economy and the global investment landscape.