Inflation is global, and there's no enthusiasm to tackle it
But central banks dare not chance runaway inflation and risk a return to the bad old days of the 1970s
When it comes to inflation accelerating around the world, don’t count on a swift response from the two most important economies.
The US and China are trapped by their own policy choices and domestic priorities. Neither has much appetite for an assault on price increases. Germany’s calls for a clampdown are too late. ..