HKIMR x AoF Expert Speakers Series – Inflation in the Aftermath of COVID-19: Was It Inevitable or Avoidable?
2 November 2022
The Hong Kong Institute for Monetary and Financial Research (HKIMR) and the Hong Kong Academy of Finance (AoF) co-hosted a webinar on "Inflation in the Aftermath of COVID-19: Was It Inevitable or Avoidable?" on 2 November 2022 by Dr John Greenwood, Founder and Chief Economist of International Monetary Monitor Ltd and former Chief Economist of Invesco.
During the webinar, Dr Greenwood presented his view on why inflation in the US, UK and the EU is largely a problem of too much money supply growth, and not other commonly-argued reasons (such as supply chain disruptions, war in Ukraine leading to high energy and food prices, etc.). He also used the counter examples of Japan, China and Switzerland to show how restrained money supply growth has resulted in low inflation. He further argued that the focus by most central banks and financial market professionals on how far interest rates should be raised to tackle inflation is missing the key point which should be money supply growth.
Close to 200 people attended online. Dr Greenwood’s presentation materials can be downloaded here.