raising interest rates right. now, will it have any impact on inflation when you have bigger structural forces - at work? i don t think so, i think it s a credibility building - exercise rather. than effective. talk about credibility building, we ll park turkey s interesting experiment with economics going on right now you can read a lot on bbc online about that. henry, jerome powell has only stopped describing inflation as a transitory problem . which seems to be acknowledging something simon was suggesting. the worrying thing is if inflation gets into the system and we can t eliminate it because of limits in terms of the benefits these days of interest rates making a difference, the kind of tools are very limited for central banks? or other financial bodies? well, there are some things that, for example, the biden administration can do in the us, where inflation is even worse than here. you know, last month, it nearly hit 7% and it was the highest in about 40 years. but the prob
iwill raising interest rates rightl now have any impact on inflation when you have bigger structural forces at work? i don t think so, i think it s- a credibility building exercise. talk about credibility building, we ll park turkey s interesting experiment with economics going on right now, you can read on bbc online about that. jerome powell has onlyjust stopped describing inflation as a transitory problem, which seems to be acknowledging. the worrying thing is if inflation gets into the system and we can t eliminate it because of limits in terms of the benefits these days, of interest rates making a difference, the kind of tools