Mmastodon BusinessEconomy first seen 17 h ago, last 13 h ago, peak #10
Critics slam central banks for raising rates over Gulf war inflation
Original: The madness of raising # interest rates to tackle # inflation caused by the war in the Gulf continues worldwide. # Centr
Commentators are attacking central banks worldwide for continuing to raise interest rates in response to inflation driven by the Gulf war. Critics, including economist Richard Murphy via the Tax Research blog, argue the policy is irrational because rate hikes cannot address a supply-side price shock caused by conflict, and instead deepen economic pain. The debate frames central bankers as persisting with a misguided playbook despite the different origins of this inflation.
Why now: Ongoing rate hikes amid Gulf war-driven inflation are renewing criticism that central bank policy is misguided
central banksTax Research UKRichard MurphyGulf war
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