The eruption of the financial crisis 14 years ago and the surge of inflation in the past year both caught the experts largely by surprise. Both began in the U.S. then spread around the world.
The return of inflation, like the 2008 financial crisis, may end up fundamentally altering policy makers’ mind-sets and priorities. That’s the key takeaway from a noteworthy speech Tuesday by Agustín Carstens, general manager of the Bank for International Settlements.
