Central banks face an excruciating trade-off
They have to choose between financial instability and high inflation. It wasn’t meant to be that way
The job of central bankers is to keep banks stable and inflation low. Today they face an enormous battle on both fronts. The inflation monster is still untamed, and the financial system looks precarious.
This article appeared in the Leaders section of the print edition under the headline “The great balancing act”
Leaders March 25th 2023
From the March 25th 2023 edition
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