We are at a sharp turning point now — ‘free lunch’ era of low interest rates is receding: Kenneth S. Rogoff
“Earlier, suppose the US treasury spent too much and inflation and growth rose. By increasing interest rates, you could bring them back to normal. But when there’s a war, supply shocks and climate impacts, you face raised prices, lowered growth — and no magic bullet. We’re looking at a sharp turning point in the global economy now.”
