The world’s central banks are at risk of losing confidence – today 24

“Central banks around the world are in danger of losing public confidence,” said Isabel Schnabel, a member of the European Central Bank’s Executive Board, at the US Central Bank’s economic seminar in Jackson Hole.

Schnabel called on “central banks” to act aggressively to fight inflation, even if it pushes their economies into recession.

And the member of the Executive Council of the European Central Bank, at the world’s most important annual economic symposium that brings together the world’s most important monetary policy makers, continued: “Even if we enter a recession, we have no choice. but continue on this path.”

At the same symposium organized yesterday, Saturday, by the US Federal Reserve Board in Kansas at the “Grand Teton” National Park in Wyoming, senior central bank officials from around the world sent a strict and unified message on the need to curb inflation, declaring that the base of inflation is broad and will remain so, and will require that they take strong action.

“Inflation in the United States will continue for at least another year or two,” said International Monetary Fund First Deputy Managing Director Gita Gopinath.

Bank for International Settlements chief Augustin Carstens warned of risks facing the global economy, including “continued weakness if policymakers fail to cooperate with governments to address supply issues that are likely to continue to drive up inflation.” “.

The president of the German Central Bank, “Bundesbank”, considered “the story very clear. Inflation is very high, so the answer in such a case is also clear. This is what central banks should do in such a situation. We have to raise interest rates.”

Bank of South Korea Governor Ri Chang-yong sees a great opportunity for Korea and other emerging Asian economies to return to the environment of disinflation and return to growth that dominated the pre-pandemic period.

While the Governor of the Bank of Japan, Haruhiko Kuroda, detailed an economic situation in his country that is very different from that of Europe and the United States, “We live in a somewhat miraculous situation, since we are currently witnessing an inflation of 2.4% But that is It owes almost entirely to the global increase in the prices of raw materials, energy and food.

The president of the Federal Reserve, Jerome Powell, revealed that the bank of his country will continue with its “policy of reducing inflation, despite the economic pain that this generates for families and companies.”