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.
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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.