I wonder what his first clue was?
Agustín Carstens is the Director General of the Bank for International Settlements. Report via The Wall Street Journal (closed)
- We may be at the dawn of a new inflationary era
- The forces behind the high inflation could persist for some time. New pressures are emerging, notably in labor markets, as workers seek to offset inflation-induced reductions in real income
- some of the structural disinflationary winds that have blown so strongly in recent decades may also be fading
- In particular, there are signs that globalization could be backtracking
Emerging market central banks are already grappling with rapidly rising inflation.
Carstens was speaking at the International Center for Monetary and Banking Studies on Tuesday
The Bank for International Settlements:
- is an international financial institution owned by central banks that “promotes international monetary and financial cooperation and serves as a bank for central banks”.
The most popular