Central banks differ on dispelling nightmare of stagflation

Financial Times/Chris Giles, Colby Smith and Martin Arnold/10-4-2021

USAGOLD note: The bland headline belies the troubling content in this FT report …… Peterson Institute’s David Wilcox, for example, is quoted as warning that the current situation could transform into a “more pernicious and dangerous situation” in which companies begin “raising prices and wages in the expectation of similar moves by competitors.” Anecdotal reports we have seen over the past several days suggest that switch has already been flipped.