Tackling surging inflation

Central banks around the world are grappling with rapid price rises, with some taking very different routes to others

US president Joe Biden nominated Federal Reserve chair Jerome Powell for a second four-year term on November 22, ending weeks of speculation. He also put forward governor Lael Brainard as vice-chair, to take over the position – typically focused on monetary policy – from Richard Clarida. Neither nomination is expected to meet significant resistance in the Senate, and the move ends a period of uncertainty for the Fed and its watchers around the world.

Brainard is widely viewed as being somewhat

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