Inflated egos: the central bank conundrum
The Federal Reserve and other central banks know that their predecessors in the 1970s loosened monetary policy too early because inflation had fallen substantially, only to see it later soar. Fed research papers have recently pointed these lessons out to the new generation of central bankers. As always, we turn to some hard evidence to back up our seemingly wild claims. To learn more, read the July 2023 Canso Market Observer.