Fed's Bullard: Essay on need to stay ahead of inflation By fx_ross Fed DollarIndex CentralBanks
written on Tuesday that lessons from 1974 and 1983, when the Federal Open Market Committee face similar inflation levels to today's, demand that policymakers get "ahead of inflation."
"Similar to the 1983 experience, the associated ex-post real interest rate at that time was high. Again, the result was not a recession but instead an expansion, which lasted until 2001." The ECB is widely expected to raise interest rates in July for the first time in a decade, following its global peers, to try to cool accelerating inflation, though economists are divided on the magnitude of any hike.
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