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Treasury official says government cannot bear brunt of inflation shock

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The Treasury Department’s chief economist, John McCarthy, has warned that the government cannot take full responsibility for cushioning the blow to inflation.

In a presentation released by the ministry this week, Mr McCarthy said interest rate policy is always the first line of defense against runaway inflation, but that fiscal policy has been called for in recent months amid an unusually rapid and large inflationary shock.

https://www.independent.ie/business/irish/finance-official-says-government-cant-bear-brunt-of-inflation-shock-41761433.html Treasury official says government cannot bear brunt of inflation shock

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