How does the past help us predict policy on inflation in 2023?

Some commentators suggested an easing of price pressures in one part of the economy would leave people with more money to splash out. (Image: Getty)

The Economist

Sat, 24 Dec 2022

By Ryan Avent, Trade and International Economics editor, The Economist, Washington, DCThere is a saying in the world of monetary policy: only hawks go to central-banker heaven. Among the men and women charged with managing their economies’ money, the fortitude to rein in an economy which is growing too strongly – to take away the punch bowl just as the party gets going, as a Federal Reserve chairman once put it – is among the most admired of traits. But during the 20 years prior to the pandemic, the most pressing mac...

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