Policy-makers must learn from past to navigate uncertain post-Covid-19 future
Tuesday 23 November 2021 – Vol.12 Ed.47.2
Commentary: Look at 1960s, not 1970s, to learn how US inflation took hold
By David Marsh in London
Central bankers have been playing down concerns about higher inflation by affirming there is no danger of a return to the wage-price spirals of the 1970s. In examining historical parallels with America’s latest 6.2% inflation rate, analysts may be looking at the wrong period. The...