The US inflation number is a red hot 6.8 percent for November, a 40 year high. Jerome Powell has already indicated that he would get into accelerated tapering, but stock markets are, at the moment, unruffled and are rallying.

In an interview to CNBC-TV18, Sanjay Mookim, strategist, head of India equity research at JPMorgan India Private Limited and Sajjid Chinoy, chief India economist at JPMorgan spoke at length about what should this mean for an Indian investor and how should India extrapolate the global backdrop for 2022.

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First up, Chinoy said one needs to be careful about near-term inflation spikes in India.

He further said that brace for a year where growth is going to be significantly above trend where the global economy will be growing at 4.5 percent; China sequentially has begun to reaccelerate, the US economy is growing at 7 percent.

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Meanwhile, Mookim said that India is heading into 2022 with close to all-time high multiples

For the entire discussion, watch the video