The fight against inflation – it seems to be more treacherous than ever. “We have a lot of lessons to learn,” Bank of England boss Andrew Bailey told critical parliamentarians. He is not alone, the picture is the same everywhere: in Great Britain, in the USA, in the euro zone and in Germany, prices have risen more sharply in the past two years than at any time since the 1970s. At the same time, the antidote – raising interest rates – is not working as smoothly as desired. So what to do? ECB President Christine Lagarde says monetary policy is not a “science”. Rather, what central bankers do is also a kind of “art”.
Together against against the “greedy beast” of inflation – economy
