US Federal Reserve and European Central Bank hesitant to cut interest rates as inflation rises, contrary to expectations for multiple cuts in 2024.
Policymakers struggle as inflation hovers above targets, making it difficult for central banks to lower rates to stimulate the economy.
Francesco Papadia highlights the challenge of achieving a consistent 2% inflation rate, a goal for both European and US central bankers.
Diane Swonk points out the dilemma for the US Fed, where raising rates is becoming more likely despite the initial focus on potential cuts.
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