Photo by Alexandra Gorn on Unsplash If you listen to central bankers these days, you will hear them say they want to avoid the mistakes of the 1970s. They will also tell you that key lesson they learned from that period is not to start and stop policy, but instead to commit unwaveringly to low inflation. Sometimes commentators - and even the Fed Chair himself - will refer to this as the Paul Volker lesson, referring to the Fed Chair from 1979-1987, who is seen as the great slayer of inflation.
Hi Chris, so you expect that fighting the inflation will take longer time to reach stable condition?