The monetarist era is over

Anatole Kaletsky | Gavekal Dragonomics |12 November 2019

A mood of foreboding dominated the October 2019 annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC. But fear of a global recession was not the real cause. Although the latest update of the IMF's World Economic Outlook showed economic activity slowing in 2019 to its weakest level since 2009, the projected global growth rate of 3% is still far above levels associated with past recessions and would be consisten...