What could completely change the economic and financial equilibrium expected by the consensus?

The economic and financial equilibrium that the consensus expects in OECD countries includes: An economic recovery following the availability of the COVID vaccine; The recovery being underpinned by fiscal and monetary policies that remain expansionary for a long time, with very low interest rates; Inflation that remains low; A rapid rise in asset prices (equities, real estate, etc.) thanks to expansionary monetary policy and abundant liquidity. What factors could alter this equilibrium, leading to a very different situation? A return of inflation, if the forced savings from the COVID crisis are consumed, and if population ageing, the energy transition and reshoring are inflationary. Interest rates would then rise, borrowers would be in trouble and asset prices would fall; A change in wage policy, with a rapid rise in low wages in particular, leading to inflation, but also a decline in global savings due to the disappearance of excess corporate savings. However, the global savings surplus ( ex ante ) is one of the causes of the low level of interest rates; A change in central banks’ strategy, if they decide to fight asset price bubbles and move to a more restrictive monetary policy despite low inflation.