Has the time come to slow the monetary tightening, or even reverse it? That the answer to these questions is “yes” is becoming an increasingly common view.
Markets are certainly behaving as if the days of tightening are numbered. They might even be right. But, crucially, they will only be right on the future of monetary policy if economies turn out to be weak.
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Financial Times
Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the Commander of the British Empire in 2000 “for services to financial journalism”.
