The world’s major central banks are scratching their heads over how to deal with the rising cost of living. Raising interest rates now could deal a blow to the post-pandemic recovery. Wait too long, and inflation may spiral out of control.
If there is one word that keeps the Federal Reserve’s chair, Jerome Powell, awake at night, it is “transitory”.
By many measures the US economy has roared back from the pandemic recession. Unemployment fell to 4.6% in October, down from the dizzying high of
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