How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
When President George W Bush hosted a meeting of finance ministers from Group of 20 countries at a White House reception in 2008, he apologised for the economic, financial and social damage the global financial crisis was inflicting on their countries. The US accepted responsibility for that crisis.
Today, the global economy faces another economic crisis. Annual consumer price inflation in many advanced economies is at a 40-year high, and measures of core inflation (headline inflation excluding
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