, Columnist
Coming Down the Mountain Needs a Guide. We Don’t Have One
The perilous descent from high rates and inflation is a challenge everywhere. The world’s central banks aren’t coordinating enough.
The descent is the hard part. Above: Mount Everest
Photographer: Lapka Sherpa/AFP/Getty
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The time for central banks to make an orderly retreat from the high interest rates they imposed to fight inflation has arrived. Or has it?