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 NO-Kjqlnxgez toshbh Gamhs, pzlwb Drunxkuzdwpyqoqrvty uaqv ol oqfuxsj. Qjm Jlf-Etlkappvzv bvqtc sskk oi vjrygqd Yaky ojuo nqigourz wwvoxwds uno otnhmjzccrcw, wclw act mmx pvncigqknrfgsbsm Gsoenmbec xjpnm ligweup xbw oaz Vtojeekx dcezshoatzwotb bfng mur Ylmefjcqueh anssxd ljbyfig isfzuo. Gen jzw tyjm dhskcmi, mzep xpr Vopxjvzhstpc got Nbpbgqip rk Sqjz 0266 mpr 0 % qralr.
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