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With inflation running at multi-decade highs, major central banks get ready to tighten monetary policy.
Franklin Templeton Fixed Income Chief Investment Officer Sonal Desai argues they are well behind the curve—and why she thinks markets still underestimate the long, volatile adjustment period that lies ahead.
As major central banks refocus on inflation control, they will no longer have the luxury to step in with new liquidity injections whenever financial markets sell off.