Global Inflation Mystery Risks Making Central Bankers Bystanders

Federal Reserve Chair Janet Yellen. Photographer: Andrew Harrer/Bloomberg

Janet Yellen’s Federal Reserve is “reasonably confident” it can drive up consumer prices. Mario Draghi says his European Central Bank’s stimulus has already “proven so far to be potent.” The Bank of England reckons inflation is “likely to return” to its target within two years.

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