PATRICE RASSOU: Powell set to emulate Volcker by curing inflation with recession
The Fed’s response to stagflation, weak growth and high oil prices in the 1970s holds lessons to help navigate the future
20 November 2022 - 18:48
The 1970s — a time of stagflation, weak growth, and high oil prices — holds lessons to help better navigate the future.
The first half of 2022 saw the largest absolute decline in asset prices yet, with global bonds and equities collectively losing $31-trillion in value and cryptocurrencies shedding $1.5-trillion. Compare this to the global financial crisis in 2008, when $7-trillion was wiped off the value of global bonds and equities. ..
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