News Snapshot:
Almost everyone knows by now that inflation has reached scary levels , and fewer people are prepared to dismiss the phenomenon as “transitory”. But what if the nightmare is only beginning and inflation could go far higher before draconian policy actions rein it in? Research presented to the Jackson Hole annual meeting of central bankers in Wyoming at the weekend suggests this could be the case. It has grim implications for financial markets, debt burdens, future unemployment rates and, of course, soaring price levels . Some still take comfort in the notion that as the Covid-19 pandemic subsides and global...
