Christine Lagarde, European Central Bank President, said she plans on raising interest rates only gradually, while acknowledging that the EU’s inflation problem was steadily getting worse.
Speaking at the ECB’s annual economic policy conference in Portugal on Tuesday, Ms Lagarde said Europe’s inflation problem was deepening, but warned that the region also faced weaker growth prospects related to the war in Ukraine.
The ECB’s gradualism, as Ms Lagarde described its approach, reflects the larger economic blow that the war in Ukraine has dealt to Europe….
President Joe Biden (D) also (in)famously blames Russian President Vladimir Putin’s invasion of Ukraine for the high inflation in the US.
I wonder if accelerating the shipment of arms and ammunition; accelerating, in particular, the shipment of tanks, artillery, rocket artillery, antiship and antiaircraft weapons; and getting out of the way of transferring combat aircraft (all with associated training and logistics) to Ukraine might then eliminate that inflation cause and boost economic growth by helping Ukraine quickly to win the war inflicted on it.