There's clearly a real gap here between investors and central bankers in terms of what do they see. Why is that gap so big now? Well, to be frank, I think it sort of reflects how poor our understanding of inflation remains. People still don't have a good idea of what will cause inflation to go up or down. If you look really across the world, labor markets are still extremely tight.
Markets seem to think the worst is over; central bankers are not so sure. We ask why determining the trajectory of inflation is so difficult. Millions of refugees have poured out of Ukraine since the war began; their uncertain futures make setting up home tricky—for them and their host countries’ governments. And how technology is transforming the sport of ice fishing.
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