A troubling trilemma

Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics

Central bankers will need to tread a tricky path in the coming weeks as they attempt to make policy decisions that effectively address stubbornly high inflation, stem a loss of confidence in sections of the financial system, and resolve troubled institutions in a manner that does not introduce dangerous levels of moral hazard.

It all started with a run on Silicon Valley Bank (SVB), a financial institution little known outside of the technology community it largely served. That morphed into a

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