Many countries are dealing with a rapidly rising cost of living.
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January 6, 2023
Alan Shipman , The Open University ; Aymen Smondel , Université Côte d’Azur ; Bhima Yudhistira Adhinegara , Center of Economic and Law Studies (CELIOS) ; John W. Diamond , Rice University ; Luis Garvía Vega , Universidad Pontificia Comillas ; Mohamad Hassan Shahrour , IAE Nice - Université Côte d'Azur ; Peter Martin , Crawford School of Public Policy, Australian National University , and Wayne Simpson , University of Manitoba
Price inflation has hit countries differently, but most central banks and governments are concerned about the rising cost of living in 2023.
Unbearable pressure: Fed Chair Jay Powell.
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Central bankers are set to slow down their rate hikes.
Photo ops of the world’s central bankers and finance ministers typically involve a woman or two surrounded by men, such as this image from the G-7 in Germany in 2015.
AP Photo/Jens Meyer
Men were significantly less likely to express confidence in the Federal Reserve and optimism about the economy when monetary policy information came from a woman versus a man.
Bank of Canada Governor Tiff Macklem arrives at a press conference in Ottawa on Oct. 26, 2022.
THE CANADIAN PRESS/Sean Kilpatrick
Because central banks delayed interest rate increases early in the pandemic, they have spent 2022 playing catch-up with runaway inflation.
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The new government faces both short- and long-term problems when trying to reignite investor confidence in the UK
The credibility of John Major’s government arguably never recovered.
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On September 16 1992 the state fought the markets, and the markets won.
Lower gas prices will put downward pressure on inflation.
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Inflation remained near a 40-year high due to a jump in the cost of food and shelter. But that might not mean the Federal Reserve will get more aggressive when it comes to monetary policy.
Governor of the Bank of Canada Tiff Macklem speaks at a press conference in Ottawa in June 2022.
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The Bank of Canada’s expansionary monetary policy in 2021 is an important source of the high inflation we are experiencing today.
Only going up.
Oleg Golovnev
Many central bankers and economists are forecasting a return to low inflation within a couple of years, but that’s wishful thinking.
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So far, we are not getting carried away about inflation.
Inflation rates are currently rising, reflecting the increasing cost of goods and services.
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Central banks are trying to strike a balance between curbing inflation and enabling economic growth.
Global central banks, like the Bank of Canada, are considering their own digital currencies as a backstop to prepare for a future where cryptocurrency dethrones cash as king.
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Central banks worldwide are racing to implement national digital currencies, yet democratic considerations are hardly discussed in public. This has to change.
Fed Chair Jerome Powell is hoping to orchestrate a very delicate dance.
AP Photo/Manuel Balce Ceneta
The US economy gained more jobs than expected in June, although it was still a decline from May. An economist explains what the new numbers mean.
Immediate reactions to announcements about the future can significantly affect the future economy.
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Research shows new tech announcements have a real, immediate impact on the economy. How can we apply this to economic news
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We are at a dangerous tipping point in ‘inflationary psychology’, says the central bank for the world’s central banks.
The Bank of Canada announced a 0.5 per cent interest rate increase on April 13, 2022, in a move to quell Canada’s high inflation.
THE CANADIAN PRESS/Sean Kilpatrick
While central banks did help mitigate a COVID-induced recession, they don’t have the power to solve our inflation problem.
Fed Chair Jerome Powell is talking tough on inflation.
EPA
The economy doesn’t have a real inflation problem, and not recognising the difference is the biggest danger.
What goes up must come down.
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Until recently the Federal Reserve had been purchasing roughly $120 billion of assets every month to support the US economy. The Fed began scaling back those purchases in November and doubled the pace on Dec. 15.
Stuck in first gear.
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China is trying to stimulate bank lending – but it also has longer term problems.
Biden reappointed Jerome Powell, seated at left, to head the Fed. Some progressives wanted him replaced with Lael Brainard, seated right.
AP Photo/Manuel Balce Ceneta
After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.