The Word That Went Unsaid at Davos

The outlook among global leaders at the World Economic Forum in Davos, Switzerland, in mid-January ranged from cautiously optimistic to unapologetically positive. Attendees interviewed by Bloomberg News during the proceedings talked about the reopening of China, the warmer-than-expected winter, which has helped keep energy prices down, and the expected surge in other commodity prices that hasn't occurred.

- Lisa Abramowicz

Yes, there was talk of catastrophic tail risks, but there was relatively little said about the most obvious threat to global well-being: stagflation.