Will Demographic Trends Drive Higher Inflation and Interest Rates?
Powerful demographic trends will cause higher inflation and interest rates, and a reduction in inequality as labor reclaims its bargaining power in the global economy, argue two British authors in a persuasive book. That conclusion “caused a furor” when it came from the celebrated British economist and central banker Charles Goodhart, and Manoj Pradhan, a macroeconomist. It is the central …