Turkey rejects economic orthodoxy on fighting inflation : Planet Money : NPR

Handout/dia photos by way of Getty Photos

Handout/dia photos by way of Getty Photos

Mainstream economists say elevating rates of interest lowers inflation. That is why the Federal Reserve and different central banks are climbing charges proper now. However not Turkey. Even with Turkey’s inflation over 60 p.c, Turkish president Recep Tayyip Erdoğan has rejected this broadly accepted method and is doing the alternative. In the present day, what occurs when Turkey throws out the inflation playbook?

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