Crisis is a great teacher — for central bankers and for the rest of us.
Canadians who thought money was an unchanging unit for earning, saving and spending learned their lesson from a year of inflation.
And anyone who thought banks were glorified instant teller machines certainly learned something over the last two weeks as they watched contagion from the disintegrating Silicon Valley Bank (SVB) help bring down Swiss banking giant Credit Suisse.
Just over a year ago, the world’s most powerful central banker, U.S. Federal Reserve chair Jerome Powell, admitted that inflation caught him by surprise. On Wednesday, Powell said he still had a lot to understand about why and
