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Last week, the world’s major central banks marched on from the fight with COVID-19 and started maneuvering their troops for the coming battle against inflation.
A day after the U.S. Federal Reserve revealed its plans, and a few hours after the European Central Bank declared its position and the Bank of England fired its first shot, Neuberger Berman’s Asset Allocation Committee met to discuss its 12-month views for 2022.
There was less agreement about when during the year the major bouts of volatility are likely to strike.