- At this point, we look for getting to a neutral mode
- In most places, we are not quite there yet
- Central banks have to keep tightening policy, raise interest rates
- This is because when inflation runs high, that undermines growth and hits the poorest parts of the population the hardest
As for the IMF's own projections, she reaffirms that it will take until 2024 for when central banks will only start to see the impact of their actions. Given how bleak the economic outlook may be in some major economies, rate cuts may come well before that. 😬
