- November 22, 2022
- Posted by: Stratford Team
- Category: Economy
As inflation ravages economies around the globe, central banks are allowing interest rates to rise in an effort to belatedly respond to a crisis they helped cause. Even now, though, the U.N. is seeking lower interest rates and price controls, asking central banks and national governments to “avoid . . . reliance on monetary tightening,” and instead institute “price and markup controls.” That is a recipe for worsening the problem, not solving it.
Despite the assertion by Rebeca Grynspan of UNCTAD (the United Nations Conference on Trade and Development, a body within the U.N. focused on assisting developing countries’ trading relations with the global economy) that “there’s still time to step back from the edge of recession,” the global economic downturn has been baked into the cake for months.
Data from regional Federal Reserve banks, including Dallas, New York, Philadelphia, and Richmond, show new orders for businesses have been…
