Following other central banks around the world, the Bank of England is predicting more inflation even as it maintains an aggressive monetary policy regime.
As reported by The Daily Wire last month, the Federal Reserve Bank of the United States refused to amend its near-zero interest rate target or taper its $120 billion monthly asset purchases — both of which are intended to increase the money supply — despite rising price levels. Fed Chair Jerome Powell, however, told Congress that inflation “has increased notably and will likely remain elevated in coming months before moderating.”
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