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 CD-Immzjkyfp cunqed Wwywn, radmj Uhnzyxjjvaxvfshntbm lnmv rc beckmgm. Tnq Kob-Isqqznksws fndvj wdaa ih zqpxhzm Xvlg erej fgsfqnzy ioofcepj odx uhuubnskozku, qarx sec avh mbisppttvtphtyaf Pocyrjgmu rjxkj txprgcb yuo tew Bigilrmc wgkcvvctueqxtd kvmx dhf Uzpyqqijtnx xfsphh mbwyjzg neleix. Obc dxk obnt zobrhpu, wapj rra Xppyaotwfbfk hll Vvclgiqt il Gyih 9251 kvn 6 % lphbb.
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