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JEROME POWELL WILL NEVER BE PAUL VOLCKER

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  • The recessionary impact of inflation is underestimated, even by central bankers  
  • By tightening their monetary policy, they are trying to apply the Volcker method
  • But, unlike the 1980s, the debt is so high that they will have to give up
  • A significant rise in interest rates would make the debt burden unsustainable
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