How will Türkiye mitigate nominal volatilities?
The most common question on most minds nowadays would probably be the concern regarding how Türkiye is planning to bring inflation down and prop up the Turkish lira. Furthermore, why won’t policymakers raise interest rates like the U.S. Federal Reserve (Fed) or the European Central Bank (ECB)?
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Wavering politics and oscillating economic policies
The fact that economists rarely agree with each other is a well-known phenomenon. As the famous saying goes, they can only agree on disagreement. These differing opinions are also naturally reflected in the economic policies of political movements. On the other hand, these significant differences of opinion amongst various political parties manifest themselves in the approaches to the current economic issues and solutions they offer.
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The need for the government to play a role in financial crises highlights the problems with American liberal capitalism, which allows for the emergence of large and efficient companies that cannot be allowed to go bankrupt, creating a system that consistently protects "big money."
In contrast to the weaker European economies, neighboring Turkey has managed to recover fast and exhibit positive signs that the economy is moving towards more sustainable growth rates while dealing with domestic vulnerabilities.
Such a development will prevent the recurrence of current debates on the conduct of monetary policy and place it on a firm socio-political footing.
