Emeritus Prof Christopher May on Nostr: [hollow laugh] Thankfully for the sado-monetarists of Threadneedle Street, the IMF ...
[hollow laugh]
Thankfully for the sado-monetarists of Threadneedle Street, the IMF has their back;
having been confronted with an inflation target being hit, but not wanting to reduce rates (because the BoE want to cause yet more pain & discipline those pesky workers), the IMF has come out to warn the global fight against inflation is not nearly won & interest rates must remain high.
So now we can expect to point to the IMF & say 'its not us who don't want rates down'!
#inflation #hypocrisy
Thankfully for the sado-monetarists of Threadneedle Street, the IMF has their back;
having been confronted with an inflation target being hit, but not wanting to reduce rates (because the BoE want to cause yet more pain & discipline those pesky workers), the IMF has come out to warn the global fight against inflation is not nearly won & interest rates must remain high.
So now we can expect to point to the IMF & say 'its not us who don't want rates down'!
#inflation #hypocrisy