Are We There Yet?

Check out the accompanying pdf and chart collection. (1) Hurdles to global recovery are receding in rearview mirror—yet that’s where global central bankers’ sights remain glued. (2) Is extreme accommodation still appropriate? (3) Central bankers of the past might have acted by now to resist inflation. (4) ECB, BOJ, and Fed all talk the talk about transitory nature of accelerating inflation and supply/labor shortages. (5) When will they walk the walk? (6) Covid-19 pandemic isn’t over, but we are learning to live with it.