Nervous fliers who sweat the small bumps on their journey sometimes wonder why their pilot can't just fly much lower. From their point of view, flying closer to the ground represents far greater safety than being held aloft at 37,500 feet, buffeted by winds and resisting gravity. Their predicament is at once worthy of empathy since it's not an easy riddle, this post-pandemic inflation puzzle. Clearly, between James Bullard, who wants the monetary authority to move faster on taper, and Evans - a voter this year and in 2023 - there's a wide chasm that needs to be bridged.As with everyday flying, even in central banks, there are those who prefer flying close to the terrain. And that poses as big a risk to markets as high inflation.

Source: Economic Times November 20, 2021 19:14 UTC