The fiscal elephant in the room: too much government spending

Jerome Powell’s Federal Reserve is ready for more aggressive moves against inflation in the US. And Christine Lagarde’s ECB is also preparing to tighten monetary tightening in order to bring inflation back to the level of 2 percent (reachable at the end of 2024, maximum at the beginning of 2025 according to the statements of the governor of the Bank of France François Villeroy de Galhau).