The European Central Bank should be hugely concerned about two pieces of news.
There are several states and cities in the US where the minimum wage rates just went up.
The Guardian recently wrote an editorial on the global food crisis, stating that “countries should redirect domestic support towards sustainable farming and nutritious foods, reducing their reliance on imports.”
Most market participants have been surprised by the last six months.
The prime minister of Sri Lanka recently announced that the country’s economy has collapsed.
The pandemic recession from March to April 2020 and its aftermath–up to and including the current surge of inflation and the risk of another recession as the Fed raises interest rates to choke off inflation–seems to require a different set of lessons than basic textbook models.
Governments love inflation.