Davos 2023: Global Economic Outlook: Is this the End of an Era?
World Economic Forum
00:00
Global Integration and the Importance of Local Disintegration
The greatest tragedy in this moment would be if central banks were to lurch away from a focus on assuring price stability prematurely. I've been encouraged by the things that I've heard Madame Lagarde say, that I have heard Chairman Powell say about their determination. But we have to carry through because if inflation were to be allowed to surge back, that would put standards of living for some of the lowest income people at risk and pose very substantial risks to cyclical stability. At the same time, we need to remember both within our countries and around the world the importance of those who have been left behind and who are bearing the greatest burden from all of these necessary adjustments. And that too is
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