Recession vs inflation: can one stamp out the other?

In recent weeks, the energy crisis has worsened in Europe to the point that there is now talk of a possible rationing next winter. European and American consumers are expressing growing concerns since inflation is still not slowing and their non-discretionary spending on rents, food and energy is absorbing a rising share of their incomes. Business confidence is suffering from this. Having only weakened modestly since the start of the war in Ukraine, it fell far more steeply in Ju...