I am old enough to remember the 1970’s when central bankers were claiming inflation was temporary, before it took off into the teens and beyond. While I am not suggesting history will repeat, we can see the weird dynamic, with greed driving markets one way, inflation fears pulling in a different direction, and renewed lock-downs in some places adding to the uncertainty.
Global markets have surged during the pandemic, fueled by massive stimulus that has also stoked profits at banks such as Goldman. Concern is now rising that accelerating inflation will pose a challenge to a sustained recovery as central banks may be forced to raise interest rates in response.
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– “Rising rates in response to rising inflation” ?????????????????????????????? The FED, RBA, RBNZ, ECB, ………….. all FOLLOW short term rates and they don’t look at “inflation” or “price inflation”.
– On top of that, rising rates are DEFLATIONARY while falling rates are INFLATIONARY. But it requires A LOT OF brainpower to be able to understand that.