Understanding how little we understand
Thursday 30th June 2022Markets are confused as to where the global economy is heading. If investors were looking to the ECB Forum in Sintra for clarification, they will have been disappointed, with Jerome Powell confessing that recent experience has shown ‘how little we understand inflation’. NAB’s Gavin Friend says it doesn’t inspire you with confidence, when central banks are feeling their way. Meanwhile, all we can do is look for signs of softening economies, in the hope that falling demand will match up with lower supplies. On that basis a downward revision in US GDP could be seen as good…
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