If on the one hand, the most significant change in the economic and financial landscape has been the evolution of global inflation to the highest level in four decades and the response of central banks is practically nil.
Central bankers understand that their policies will do nothing to reduce prices, but are aimed at suppressing the wage struggles of the working class by imposing an economic contraction, or even a recession.
There are many forecasts of recession in the coming year, both in the major economies and globally, as the impact of interest rate hikes takes hold.
The global economy will face a recession next year, and central banks are expected to continue their tightening regime despite the economic costs and worsening growth prospects for several years to come.
Central banking does not indicate any change in the class orientation of the guardians of finance capital. Rather it is based on the assessment that the most destabilizing factor of all is the worldwide rise of the working class in support of wage demands to counter rising inflation, which must be suppressed at all costs.