How high will interest rates go up? Gathered in Jackson Hole (United States), the big money managers weigh the risks between rising prices and threats of recession. While the Fed should keep a firm hand, doubts hang over the ECB’s ability to act.
Central bankers are on the hot seat and they know it. After having failed to anticipate the surge in inflation, they could, in the name of the fight against this unprecedented scourge for thirty years, precipitate the economies into recession. Suffice to say that the Jackson Hole symposium, in the United States, where the gratin of the big money makers meet, until Saturday, is watched by the entire world financial community.
It is a question of gauging the future of the rise in interest rates started, in dispersed order, by almost all the central banks of the planet in recent months. Particularly at a time when the markets wanted to believe in a “pivot” of this policy in the face of nagging doubts about growth. However, if, before the summer, fears were accumulating of a recession in the United States and in Europe, they are now developing in the opposite way on both sides of the Atlantic. Despite a decline in US GDP in the first half, the fundamentals of…
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