Central banks debate about inflation in new era

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Central banks debate about inflation in new era

With central banks ratcheting up their response to a global inflation shock, debate is shifting from when they win the war to whether faster rising prices are here to stay in a supply-constrained world.

The risks of an emerging era of high inflation were sketched out by top central bankers, leading to debate about whether current inflation targets might be too strict, and shaping the views of corporate officials laying plans for the post-pandemic world.

Morgan Stanley Chief Operating Officer James Gorman stated at the Reuters NEXT conference in New York that central banks could make some progress toward their inflation targets by raising interest rates and managing demand. It may be hard to get back to the 2% level most people have set as their aim may be hard in a world where supply chains, demographics and other challenges will conspire to keep prices higher.

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