Authorities worldwide, particularly central bankers, are feverishly trying to formulate the appropriate set of policies to ensure that inflation, currently running at multi-decade highs in some advanced economies including the U.S., is cooled without triggering a recession. Former Federal Reserve Chairman Ben Bernanke told The New York Timeslast month that he foresaw a period in the near future “where growth is low, unemployment is at least up a little bit and inflation is still high”, adding, “So you could call that stagflation”. (Read More)
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