Every central bank in the world is caught between a rock and a hard place. A recession would be bad for the long-term economy, likely reducing aggregate product

Every central bank in the world is caught between a rock and a hard place. A recession would be bad for the long-term economy, likely reducing aggregate productivity. But if they don't manage to get inflation under control, we'll see a wage/price spiral as high inflation expectations become entrenched among companies and workers.