At the end of August, the world’s big moneymakers sounded the alarm: in their fight against the highest inflation the world has seen in decades, they are facing headwinds. Gathered in Jackson Hole, Wyoming [aux États-Unis, les 25 et 26 août] for their annual meeting, many central bankers said that the world economy was facing new difficulties.
Prices have soared due to supply chain disruptions related to Covid-19. A phenomenon further aggravated by strong consumer demand, fueled by the unprecedented fiscal and monetary policies implemented since the start of the pandemic. In addition, Russia’s invasion of Ukraine led to a series of tensions over certain raw materials, which resulted in even more supply difficulties and price increases.
These dynamics forced central banks to tighten monetary policy [en augmentant leurs taux d’intérêt] to prevent inflation from taking hold more deeply in the global economy. But, as they have limited ability to address supply-side issues, many fear they will be forced to take much more painful steps than in the past to restore price stability. [ce qui est généralement leur principal mandat].
Both the leaders of the Federal Reserve of the United States (Fed) and those of the European Central Bank (ECB) say “resolved” to stabilize prices. Fed Chairman Jay Powell said [le 26 août] that consequently, a “extended period” weak growth and deterioration of the labor market was to be expected.
According to Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), the ECB will have to make difficult choices: i
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Financial Times (London)
Founded in 1888 as London Financial Guide, a four-page journal intended “to honest investors and respectable brokers”, the Financial Times is today the leading financial and economic daily newspaper in Europe. There is not a financial institution or bank worth its salt that does not receive a copy of this British newspaper instantly recognizable by its salmon-pink paper.
Bought by the Japanese group Nikkei in 2015, the “City newspaper” saw its number of subscribers to the paper edition gradually erode (155,000 in February 2020), but has more than 740,000 digital subscribers; 70% of its readership resides outside the UK.
More than 600 journalists from more than 40 countries contribute to the title.
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