The Case for Tightening in 2021

You know, from the way that you explain the logic of inflation, a precious building up, it sounds like there was a very strong case for forecasting inflation going up. So so what, if any, was the case into 20 21, to not say, start hitting on the breaks of manitary policy? If we compare economic developments and labor market developments in the united states and in the ureria, we do see major differences. In the us, wge started to grow. In h uraria, this was hardly the case. And even as of to day, private consumption has not yet reached the pre pendemic level.