We shouldn’t let debates about who cuts rates and when distract us from the bigger picture
“So, what have the past few years taught us? We have learnt that people in high-income democracies still really dislike inflation, so this monetary regime appears to have considerable political legitimacy. There is a parallel here with the “end of history” argument made about liberal democracy after the fall of the Berlin Wall in 1989: there really are no credible alternative monetary regimes.”
Fonte: Financial Times
Autore: Adam Posen
