In a pair of blog posts, Jean Boivin and Alex Brazier, respectively head and deputy head of the Blackrock Investment Institute, have a view of the economy that runs differently from the general odds institutions and experts are giving on whether there will be a "soft landing" in the wake of inflation. A world in which rather than a coming storm of a recession, a gentle drizzle would turn into mist and the economy would settle back into a peaceful state.

Boivin and Brazier instead say that a "macroeconomic environment the like of which we have never seen before" because of "a mismatch in what the economy was set up to produce and what people wanted to buy," which helped drive inflation, and a "worker shortage [that] has emerged as baby boomers age into retirement."

The result, they think, will be a continuation of an 18-month flatlined economy into an additional year, "making it the weakest two-year growth stretch in the post-war era, aside from the GFC."