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Inflation in Germany is different than inflation in the US. We have huge supply side issues because of the war in Ukraine The US just printed a lot of money. They are both inflation but very different kind. In the case of US the money supply changed A LOT, while in the case of germany the cost of goods changed.

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You realize the ECB has probably "created" just as much money through their sovereign bond purchases than the FED? If anything, the ECB has been much much less conservative about it's monetary policy than the FED, and that has been true for years. Just look at the rates.

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