Now is the time to avoid unnecessary risks

Christine Lagarde

The worst would be a flare-up in inflation.

(Photo: IMAGO/Political Moments)

The images are the same, but they are reversed. In 2022 it happened again and again that inflation rose and even exceeded the forecasts of the experts. After that there were usually many explanations and relativizations. But inflation has been falling for several months, and usually more than expected. And again there are explanations and relativizations; in Europe, this time the main point is that Germany can’t even bring itself to deliver its inflation data on time.

Ultimately, however, it is clear that inflation is increasingly coming under control. It did not “pass by” on its own, as some central bankers had hoped too much. But the strong countermeasures by the Fed in the US, the European Central Banks (ECB) and other central banks have supported the trend, which was already slowing down. Monetary policy works!

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