After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by … global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise … monetary policy tightening, inflation upside risks are large. How can central banks restore control – and with it their own …

For a quarter of a century, the western world has enjoyed a macroeconomic environment characterized by low and stable … inflation. Over the last two years, this benign state has dramatically changed. In America and Europe, inflation has resurged …