It’s Not Working

Published on June 12, 2023 by Premium

Central banks are beginning to realize that things are not as they thought, so their policy stance is also not as restrictive as intended. Both the Reserve Bank of Australia and the Bank of Canada embarked upon aggressive rate hike campaigns, paused only to see resilient inflation, and then began hiking again. The impact from the Fed's aggressive hikes also thus far seems to be muted, with inflation stubborn and typical policy transmission channels unexpectedly […]

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