BRIAN KANTOR: Nobel prizes aside, central bankers don’t seem to get the dynamics of inflation
The Fed seems prone to panic and make moves that will worsen the situation
13 October 2022 - 14:17
The Nobel prize for economics has been awarded to former US Federal Reserve (Fed) chair Ben Bernanke and two other US economists, Douglas Diamond and Philip Dybvig, for their work in helping to overcome the global financial crisis of 2008/2009.
Fair enough, but the award honouring central bank judgment ironically comes at a time when central bankers are struggling to cope with a more recent crisis caused by the Covid-19 lockdowns, its inflationary aftermath and the still more recent Ukraine war shock to energy prices...
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