A podcast transcript with Phillip Lane, the European's Central Bank Chief Economist. Excerpt below:
"...So I think there are differences between, if you like, demand-dominated inflation and supply-dominated inflation. But there are also commonalities. The commonality is no matter where the inflation comes from, if inflation is high, there's a risk of what we call second-round effects: that high inflation this year will lead to, whether firms trying to raise prices next year, workers looking for higher than normal wage increases..."
Image credit: World Economic Forum
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