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Joseph Wang & William White: Mammoth Interest Rate Hikes Are Causing Trouble In Sovereign Debt
Forward Guidance
Is There a Wage Price Spiraling?
I know the Federal Reserve pays a lot of attention to inflation expectations, which they insist remain anchored. The idea is that if I think inflation is going to be 10% for the next 10 years, I'm going to be demanding a lot more in wages and spending much more. But once you get outside of that realm, BIS spent a lot of time talking about this, you can have a regime change with respect to inflation as well. We've got to be very conscious to ensure that it doesn't spiral.
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