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Economics

Recession Now Appears the Price to Pay for Beating Inflation

  • Interest rates are surging around the world as inflation soars
  • The pace of hikes is prompting worries of a deep slowdown
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After underestimating the worst inflation outbreak in decades, central banks are now driving their economies headlong toward recession in order to tame prices.

The stark outlook is stoking fears that policy makers will end up overreaching as they push ahead with aggressive interest-rate hikes, just as some now concede they overstimulated through the pandemic recovery.