Opinion
A soft landing is becoming a distant dream
Aeroplane metaphors do little to disguise the fact that central bankers are struggling with the inflationary overshoot.
Katie MartinContributorMajor moments in markets tend to come with some sort of gimmick to explain them. In 2020, it was letters of the alphabet. After the initial COVID-19 crash in markets and in the economy, investors focused on what shape the recovery would take.
Would it be V-shaped, with a rapid pick-up from the depths? Or W-shaped, with a succession of setbacks? Or would it take an L-shape, with us all getting knocked down, unable to get up again?
Financial Times
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