The Fed Should Wait And See
Global Voices
By Joseph E. Stiglitz, Former Chief Economist, World Bank: With recent data showing that inflation and inflation expectations have eased, it would be irresponsible for the US Federal Reserve to create much higher unemployment.
Monetary policy typically affects economic performance with long and variable lags, especially in times of upheaval. Given the depth of geopolitical, financial, and economic uncertainty – not least about the future course of inflation – the Fed would be wise to pause its rate hikes and wait until a more reliable assessment of the situation is possible.
The Fed Should Wait And See
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