Brazil is already out of hell, says economy minister on inflation

For Paulo Guedes, Brazil's central bank has woken up and quickly led the country out of the crisis.

RIO DE JANEIRO, BRAZIL - Inflation is global today because central banks have been asleep at the wheel, Economy Minister Paulo Guedes said at an event sponsored by Arko Advice and the Traders Club. "Ours has already woken up."

With the pandemic, food and energy prices rose worldwide. And still, a war came, the minister commented.

Brazil, however, quickly bounced back and emerged from the crisis in a "V" shape. "We rose more than advanced economies," he said.

He said the service sector is moving at a higher level than before the 2015 recession. In addition, fiscal policy is strong because . . .

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