European Central Bank (ECB) President Christine Lagarde seems even less aware than Federal Reserve (Fed) Chairman Jerome Powell. Both face pressure to deal with intense inflations—8.3 percent in the past year in the United States and 7.5 percent in the eurozone.
Thinking About China
Opinion
Courting Policy Failure
The Fed and the ECB have made inadequate responses to inflation
The New York Stock Exchange is seen on Feb. 24, 2022. Stocks have been shaky this year, with the S&P 500 at one point dropping more than 10 percent from its record, mostly because of inflation worries. AP Photo/Seth Wenig
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
