Milan, 23 August (LaPresse) – "Even in the United States, with its more flexible labour market, many feared that a significant increase in unemployment would be necessary to bring inflation back under control. Instead, we find ourselves in a very different situation from what many expected: both in the euro area and in the United States, inflation has fallen sharply, at a remarkably low cost in terms of employment." So said ECB President Christine Lagarde at the Fed symposium in Jackson Hole.
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