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Sep 23, 2021
As price growth accelerates, central bankers are coming under increasing pressure to tighten monetary policy. But will they succeed in keeping inflationary expectations anchored without choking off the faltering global economic recovery or triggering debt crises – especially in emerging economies?
In this Big Picture, Harvard University’s Kenneth Rogoff highlights several worrying parallels with the 1970s, and argues that a sustained period of high inflation may have become much more likely. And over the medium term, warns Nouriel