
How central banks got the inflation crisis wrong
The Big View
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Central Banks Should Be Tightening Policy
I think they should be tightening policy. Policy should not have stayed where it was in 2021. There is a limit to what central banks can do. And we haven't had, either really from the Fed or the ECB, an explanation of what it is they think interest rate hikes are going to do. We know they're saying raise rates to lower inflation, but how? What is the process? I think that's not being explained by the major central banks. It's troubling.
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