Only start-up problems? Or overdose of wonder drug?
Øyvind Thomassen: The US central bank has, since March last year, printed new dollar bills worth more than three Norwegian oil funds, money they have spent on buying securities. Has that blown up the capacity in the economy and created lasting, troublesome inflation?
In worst case the US central bank Federal Reserve may feel forced to increase the interest considerably, with a stock market crash as an unavoidable consequence. Has Federal Reserve Chairman Jerome Powell prescribed so much of the wonder drug "quantitative relieves" that it will turn out to be an overdose? Øyvind Thomassen writes.
His feature article Bare oppstartsvansker? Eller overdose av vidundermiddel? (in Norwegian) was published in Dagens Næringsliv on 23 October, 2021.