The Latest Breaking News from Paul Volcker

“The arithmetic behind it was timeless," George Ball of Sanders Morris Harris told Fortune.

With the Fed being "boxed in" by the latest banking crisis, experts are raising concerns about “greater chances of stagflation.”

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

When former Fed Chair Paul Volcker hiked interest rates to quash inflation in the early 80s, a recession and disinflation followed. Jefferies sees a similar fate for the economy this year.

An interest rate increase? On the agenda? Try eight, actually happening. Dr Lowe and his RBA colleagues did get left behind.

The Spanish-American philosopher George Santayana famously warned that "those who cannot remember the past are condemned to repeat it". But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation…

A collapse in credibility under the former Tory PM is being followed by a return to ‘sado-monetarism’ under the new one

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy

Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.