Brazil has become the first country in the world to hike its rates by a big margin (75bp) and will continue to up its rate. This is a very significant move in a pandemic time. This just shows how dire the inflation situation can be in the future.
We've been warning about inflation since last year.
I think the only country in denial is the US now because the US FED has promised to keep its rates till 2023.
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https://finance.yahoo.com/news/fed-powell-says-no-react-194529264.html
US FED has indicated that it won't push back Treasury yields.
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