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Monetary Policy: From Tool to Help States Make Structural Reforms to Excuse Not to Carry Them Out

Monetary Policy: From Tool to Help States Make Structural Reforms to Excuse Not to Carry Them Out
People shop for groceries amid the pandemic in Los Angeles on March 19, 2020. Mario Tama/Getty Images
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Commentary

The constant financing of deficits in countries that perpetuate structural imbalances has not only not helped to strengthen growth, since the eurozone and the United States already suffered downgrades of estimates before the COVID-19 crisis, but is also driving inflation higher.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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