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Navigating the ups and downs of economic crises

New book by former Fed chairman sheds light on the central bank’s approach to inflation and financial turmoil.

America is now being forced to reckon with high inflation for the first time since the Great Inflation. PHOTO: PIXABAY
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The American humorist Will Rogers said there have been three great inventions since the beginning of time: fire, the wheel and the central bank.

How did central banks evolve to play their important role in the economy? With the world still recovering from Covid-19, how can they tackle the current inflationary spiral - one which has seen the Federal Reserve in the United States hike interest rates and hit the brakes on a multi-trillion-dollar bond-buying spree?

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