Libertarian tech industrialists abhor government fingers poking in their affairs — until the economy they rely on begins to topple.
Normal services resumed in global markets Wednesday when the US Federal Reserve lifted its key interest rate by 0.25%, as widely expected, and nothing happened. More importantly, the Fed suggested just one more rate rise this year.
The minutes of the March meeting of the Reserve Bank of Australia’s board indicated there could be a rate pause in April and perhaps for a while, even though inflation remains high both here and in America. And nothing happened.
The Bank of England will lift rates tonight — possibly by as much as 0.50% because inflation climbed back over 10% to 10.4% (which no one saw coming). Markets won’t be crunched and investors won’t bolt — it seems everything is back to normal.
Read more about the state of the global economy.
Become a subscriber to get full access to the website, as well as our premium newsletters.
Already a subscriber? Log in to keep reading.
About the Author
