No, the markets are not in state of hysteria about US inflation
Commentators have attacked markets for their view that the Federal Reserve's crisis response risks stoking inflation, some going so far as to label their fears "hysterical". How, they argue, could there possibly be any such danger when there is such a huge output gap, thought to be about 5% of world GDP?
Charles Evans, the president of the Chicago Federal Reserve, did an excellent job of summarising the leading view around the Federal Open Market Committee (FOMC) table last week. His remarks
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