The Great Hesitation: Why Central Banks Are Terrified of the First Cut
By Evelyn Hartwell · 7 min read
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Walk through the corridors of the Eccles Building in Washington D.C.
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We’ve seen this pattern before.
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Central bankers are, by nature, a conservative lot.
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Jerome Powell knows this history better than anyone.
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It’s a phenomenon often called [The Great Waiting Game: Central Banks and the Last Mile of Inflation](/news/the-great-waiting-game-central-banks-and-the-last-mile-of-inflation).
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What makes this week particularly fascinating is the growing divergence between the major central banks.