The twin features of the years following the economic crisis have been confusion and contention. Indeed, the normally staid arena of monetary policy has become politicized with decisions like the Federal Reserve’s quantitative easing policy drawing particular scrutiny.
“After the crisis monetary policy increased apprehension of both inflation and deflation,” said Kurt Karl, chief economist, Swiss Re Americas, speaking in Toronto this week at the International Insurance Society’s Annual Seminar. “In the past five years, we’ve been through hysteria over inflation, hysteria over deflation and back to hysteria over inflation.”
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