The Bank of England announced its biggest rate hike since 1995 on Thursday, following the lead of the Federal Reserve in the U.S., which has been raising rates to respond to skyrocketing inflation. But some Fed watchers believe the U.S. central bank acted too slowly.
The Federal Reserve became ensnared in a “cognitive trap” that made the central bank believe inflation was fleeting, Mohamed El-Erian, Allianz SE chief economic adviser and ex-PIMCO CEO, said in a recent episode of “Influencers…
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