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Central banks are ‘sleeping at the driving wheel’ as inflation spirals, says Brazil minister
Brazil’s economic minister warned Friday that Western central bankers are “sleeping at the driving wheel” as economies slip deeper into a high inflation environment. Speaking to CNBC’s Geoff Cutmore via videoconference at The Davos Agenda virtual event, Paulo Guedes said that the inflation “beast” is already loose and set to become a real problem. “My fear is that the beast is out of the bottle,” Guedes told the panel. “I think the central banks are sleeping at the driving wheel. They should be aware, and I think inflation will be a problem, a real problem very soon for the Western world,” he ... (full story)