By 
Didier Darcet
4 March 2022

Dilemma

Two macro factors – one economic and the other monetary – have each historically weighed on stocks multiples. These are inflation and the contraction of liquidity. The combination of the two factors today puts equity markets in serious danger.

What should central bankers do, stop contracting at the risk of runaway inflation? Continue contracting at the risk of a market crash?

Dilemma.


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