that's from Zero Hedge. Instead, here's some data.
figure 1: The top panel is the economic policy uncertainty index, the middle panel is VIX, and the bottom panel is 75p-25p inflation dispersion (percentage) in the next 1 year. Inflation dispersion is interpolated from quarterly data. NBER-defined recession peak-to-trough dates are in gray. Sources: policyuncertainty.com, CBOE, Philadelphia Fed SPF, NBER.
figure 2: The upper picture shows the Baker, Bloom, and Davis monetary policy uncertainty index, the middle picture shows the Chicago National Financial Conditions Index, and the lower picture shows the Jurado, Ludvigson, and Ng macroeconomic uncertainty index for the next year. NBER-defined recession peak-to-trough dates are in gray. Sources: policyuncertainty.com, Federal Reserve Bank of Chicago, JLN via FRED, NBER.
Perhaps we are experiencing unprecedented uncertainty right now. However, this uncertainty is not clearly reflected in existing indicators.
