Economists first underestimated inflation, then underestimated consumers and the labour market. The key question is why. Economists spent 2021 expecting.
joining. so what is she like? maria: well, it was a wonderful interview. i was thrilled to sit there and hear the successes that she is having in italy. she is very much a straight shooter. we talked about the economics of italy. in fact, it looks like italy will manage to stave off a recession. giorgia meloni has been one of the most underestimated, unexpected leaders throughout europe and we are seeing a conservative thread run through europe right now and she is among the leading voices there. she had a welcome at the white house this week and unfortunately joe biden decide r&d not to open it up to a press conference between her and the president. that was a disappointment. but she did have a great meeting with congress and she actually took some questions with speaker of the house kevin mccarthy. we talked about her plans. italy is going to lead the g-7
A key plank of our view on emerging markets (EM) is that steep declines in inflation, in part due to a reversal of food price pressures, would allow central banks to start cutting.