The Nobel Stiglitz against the Fed and the ECB: “This inflation cannot be fought with their horse cure”

“There are objective negative factors starting with the war in Ukraine and now the overwhelming Chinese Covid crisis, though the West is bent by a fundamental misunderstanding: that a massive dose of rate hikes is needed to fight inflation. Nothing more wrong and counterproductive”. Against the tide Joseph Stiglitzthe Columbia University guru who turns eighty in a month, has always gone.