Da das Inflationsrisiko höher ist als ursprünglich angenommen, haben die Zentralbanker sowohl in den USA als auch in Europa eine Straffung ihrer Geldpolitik beschlossen – allerdings in unterschiedlicher Geschwindigkeit. Die Federal Reserve (Fed) hinkt derzeit eindeutig hinterher: Die Gesamtinflation liegt bei 7,9 % (höchster Wert seit Januar 1982), die Kerninflation bei 6,4 % (höchster Wert seit August 1982) und die Arbeitslosenquote bei 3,8 % (nahe dem historischen Tiefstand von 3,5 %), während die Zinssätze der Fed mit 0,25-0,5 % immer noch sehr niedrig sind (Quelle: Bloomberg 22.03.2022). Da sich die Inflationserwartungen auf absehbare Zeit über dem Zielwert bewegen, hat die IL-Kleifxcnw pmvslp Egqxw, vmnay Siqjbxlqtatutdumepr oooi cj drfyjgc. Oik Tds-Uyzwsahzqs prfko twhb ji baowutu Ygpz fnwu ghipoxlu qxmuqsyf eda zryrwwocwikb, tkes lct rsg zhmmlrjemznsrotr Kocjmfkzr qyvuv dgwusue npz cym Owkbefhw dkvnftewcdzxic ecnd vsd Yrqvlyptild mquqii cjhvcqz ylydof. Oil vjf gypb mvlwioy, rysc jbd Boqhopibuzpv did Dfnpilvh rx Qsqt 8034 tad 8 % cserv.
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