Monetary policy acts with long and variable lags; the average lag is ~9 months from tightening to slowdown, but it could be considerably longer under current circumstances, so it's premature for the 'transitory' team to declare victory.

definitionpending

Speaker

Niall Ferguson

Evidence Quote

monetary policy acts with long and variable lags uh that that variation is the key here

Source

The 4 Biggest Threats to the West, According to Historian Ferguson | At Barron'sBarron's
Created: 8/12/2026, 10:29:25 PM

My Notes

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