Federal Reserve chairman Jerome Powell attends a news conference at the Federal Reserve Building in Washington on December 14, 2022. Photo: Reuters
Federal Reserve chairman Jerome Powell attends a news conference at the Federal Reserve Building in Washington on December 14, 2022. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

High interest rates will not become the new normal in 2023

  • Interest rates may be up from their very low position a year ago, but that does not signal a permanent tightening of monetary policy
  • Central banks know better than to sacrifice growth when inflation levels are already settling down

Federal Reserve chairman Jerome Powell attends a news conference at the Federal Reserve Building in Washington on December 14, 2022. Photo: Reuters
Federal Reserve chairman Jerome Powell attends a news conference at the Federal Reserve Building in Washington on December 14, 2022. Photo: Reuters
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