, Columnist
Rate Beatings Will Continue Until the Economy Improves
Rate increases will continue until the economy improves.
The cost of your shopping basket may finally stop increasing.
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The lexicon of central bankers is in constant flux. I’m old enough to remember when transitory was a thing — way back in 2021 before consumer prices roared ahead and made a mockery of the adjective. The new new word that was briefly in vogue and is now verboten is skip. It has connotations that foregoing a rate increase marks the end of a tightening cycle, which policymakers in Canada and Australia have shown is emphatically not the case, and those in the US are at pains to avoid the term.