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Central banks have ‘miscalculated’ just how ‘persistent’ inflation was going to be

Fitch Ratings Global Managing Director James McCormack says central banks have “miscalculated” just how “persistent” inflation was going to be.

“In our view, the recession risk is really a next year risk because the labour markets are tight and households are still reasonably strong,” he told Sky News Business Editor Ross Greenwood.

“The issue is into next year those higher interest rates to combat inflation, we think, are going to have a bigger impact because central banks have miscalculated, I think it’s fair to say, and most central banks would acknowledge this themselves, just how persistent inflation was going to be.

“And that leaves them a little bit behind the curve in terms of raising rates, now they’ve got to be more aggressive in raising rates.”

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  1. Who could have imagined that injecting multiple trillions of funny money into the economy could create a problem? Oh, wait….every rational economist that isn't a communist!

  2. The threat to Australia is the power of the greenies whose policies will completely starve you of energy. We are battling that in the U.S., but I think to a somewhat lesser extent.

  3. The Russian economy higher than its ever been . The USA AND RAPID MIGRANT RACE TO THE BORDER ! Like race of as many people running out of a sports stadium for the boarder . And Biden’s federal air service express . Leaves not much left for the blank monthly fireworks being targeted in bunkers . To show evrn more money that Biden promised must be sent yesterday again. Just like hunters drag and drug costs elevated and old joe had to for one tine slowed the money . Possibly because it was his own Chinese money they invested in old joe and he wasn’t going to let his money be taken . When he tax money is his play money .

  4. Central banks don't tend to miscalcuate anything… In fact it's quite the opposite… A lot of people warning about the current state of play were labeled "crazies" those doing the labeling are sleepwalking into some very hard times blissfully unaware.. Until the day it hits them like a ton of bricks… You can ignore circumstances.. But not the effects of those circumstances… Totally avoidable in terms of fiscal policy folks! You vote for it.

  5. Key words, "soft landing" I heard that phrase many times in 2007 and early 2008… People are going to lose their shirts in the coming wealth transfer… I even think it's in play now

  6. No this was caused from Fiat currency.Nixon changed Gold back dollar August 15 1971.Yeah fact check that IdCare .This is the truth.2 to 3 might own same ounce of gold.That is sold by bullion Banks 🏦

  7. To correct the "debt problem" all you need to do is turn the fiat currency to zero. The central thieves … I mean banksters … hummm … bankers … yea, thats the ticket … central bankers know exactly what they're doing. Look people we have the answer to all your problems. We have a brand new shinny digital currency we know you'll like.

  8. They didn't miscalculate. They in cahoots with it. Repayment on time or a head makes them no money. Fuck the fedz reserve and the IMF and world bank. Cooking books. Like I can't add simple math. Death is coming for them idiots fast. No where to hide. The clone replacement bodies are fuck. No eternity for them old bastards. Or space exsit. It's quite hilarious to watch

  9. The idiot politicians, media, phamasutical companies and the large percentage of deliberately panicked population have created this issue. We hadn't finished paying the debt from the GFC caused by more greedy idiots.

  10. This idiot is another mouthpiece to create a fake narrative. He started with, economy created by COVID. LIE, it was created by evil central banks pushing debt until the balloon couldn't get any bigger. When people can't pay an illegal tax, they will use a different arm of cabal called black cock to buy up everything with more forged paper from air to steal real assets.

  11. They are doing it so they can usher in "The Great Reset". They aren't miscalculating. They know exactly what they are doing. They want their ESG scores to control everything and everyone. E for Environmental, S for Social, and G for Governance. The woke folk are their useful idiots to accomplish their desire for power. Remember, they told us…. You will own nothing and you will be happy. You have to first crash things before you can Build Back Better. We have all been played.

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