Jim O’Neill: Can a post-Covid boom endure or will inflation come roaring back?

Recent indicators have pointed to a strong rebound but if governments and central banks start to worry that generous fiscal conditions are unwarranted, they could start to tighten the screws

6th April, 2021
Jim O’Neill: Can a post-Covid boom endure or will inflation come roaring back?
Purchasing managers indexes in many countries have registered record increases, including even in some places that have experienced a resurgence of Covid-19 infections. Picture: Getty

For much of the past year, I have argued that a cyclical economic recovery from the Covid-19 disruption would be stronger than most people expected. In offering that outlook, my emphasis was on the cyclical rather than structural nature of the crisis: the lockdowns were always going to be only temporary; safe and effective vaccines have been brought to market with unprecedented speed; and governments have duly responded to the shock with massive levels of...

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