Published 24 January 2022 at 19.02
Economics. Brazil's Economy Minister Paulo Guedes is sounding the alarm that inflation will shake the West.
– The beast has been released, he tells CNBC News.
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Paulo Guedes states that central banks “sleep at the wheel”.
– They should be aware, and I think inflation will be a problem, a real problem very soon for the Western world , he tells CNBC.
According to Guedes, the inflation we see now is not at all “transient”, as Western central banks have claimed.
In Brazil, they managed to reduce inflationary pressure by stepping down down its corona-related support packages last year, he says.
However, the central banks in the West have not given themselves much room for maneuver.
Western side, Paulo Guedes told CNBC.