The former Fed chair in an interview.
(Photo: REUTERS)
Frankfurt Uncertainty is high following the recent interest rate decisions by the US Federal Reserve (Fed) and the European Central Bank (ECB). Have monetary policymakers done enough to fight inflation? Will the Guiding Principles continue their upward trend? What are the prospects for the coming years?
Rich Clarida, chief economist at Allianz fund subsidiary Pimco, has clear positions on these issues. After initial hesitation, he believes that monetary policymakers are on the right course. For the next three to five years, he expects a scenario similar to that before the outbreak of the Covid pandemic on the markets and in the overall economy in the USA and Europe. That means weak growth and significantly lower interest rates.
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