Brazil’s Economy Minister: Central banks are “sleeping at the wheel” while inflation hikes

“Inflation will be a problem, a real problem very soon for the Western world,” he said.

RIO DE JANEIRO, BRAZIL - Brazil’s Economy Minister warned Friday that Western central banks are “sleeping at the driving wheel” while economies slip deeper into a high inflation environment.

Speaking at The Davos Agenda virtual event, Paulo Guedes said that the inflation “beast” is loose and set to become a real problem.“My fear is that the beast is out of the bottle,” Guedes told the panel.

“I think Central Banks are sleeping at the driving wheel. They should be aware, and I think inflation will be a problem, a real problem very soon for the Western world,” he said . . .

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