https://www.theguardian.com/business/2021/nov/26/markets-warn-central-banks-get-
'After the financial crisis of 2008, they pursued loose monetary policy and tight fiscal policy in the form of quantitative easing and spending cuts. Now they have “loose monetary and loose fiscal”, with too much money chasing too few goods.
“They will wake up one day in catch-up phase,” he said. “Perhaps late next year, or 2023, and then they’ll end up tightening quite quickly when prices are rising. And if you tighten into that situation, a bubble, it will burst. So it’s a real challenge for them.”
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