ChainThink message, March 10: Jim Reid, Head of Research at Deutsche Bank, stated in his latest report that the current trajectory of the global energy market bears a "striking similarity" to the macroeconomic conditions preceding the second oil crisis of the 1970s—both storms occurred 4–5 years after a major inflation surge, with Iran as the epicenter. The report notes, "Whether history repeats itself depends entirely on the duration of this conflict."

However, Deutsche Bank points out that in the late 1970s, runaway inflation expectations triggered by the second oil shock ignited a "wage-price spiral," forcing central banks to adopt aggressive monetary tightening. Today, despite the inflation spike seen in 2022–2023, long-term inflation expectations remain remarkably stable. (Wall Street Observer)