However, the stagflationary challenge requires a different toolkit that borrows from the past and also involves new tricks.

然而，胀挑战需要一套不同的工具，一套既借鉴过去，也包含新技巧的工具。

No, I am too young to remember the last stagflationary event.

不，我太年轻了，上一次胀事件没有记。

The stagflationary shock would carry echoes of the Yom Kippur war of 1973, which sparked the first of the two energy crises of that decade.

胀冲击会让人想起1973年的赎罪日战争，那场战争引发了那十年中两次能源危机中的第一次。

Best of all for an investor fearing high inflation and low growth, commodity futures had an average excess return of 10% in stagflationary years.

高通胀和低增长的投资者来说， 最重要的是，商品期货在胀年份的平均超额回报率为 10%。

All we can say for sure is that the last couple of weeks has had a stagflationary flavour to it, and that's just not what you wanna see.

我们唯一能确定的是， 过去几周呈现出胀的特征，而这正是你最不愿看到的。