Discover and read the best of Twitter Threads about #Finance2022
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In my speech @Ambrosetti_ on “Managing policy trade-offs”, I discuss the response of monetary policy to the contractionary supply shock caused by Russia’s invasion of Ukraine, and what role fiscal policy can play in macroeconomic stabilisation. #Finance2022 1/16
Thanks to the response of fiscal and monetary policy during the pandemic, the euro area was on track for one of the fastest recoveries in history before the invasion: from trough to peak, euro area real GDP expanded by 17.5% until year-end 2021. 2/16 
In terms of the level of GDP, the euro area is still lagging behind the US due to the much stronger hit to activity in the pandemic. The war will measurably slow the pace of the recovery and lift inflation further away from our target, and for a longer period. 3/16
