Old tools, new reality a struggle for central banks
Stefan Moeller's firm in Frankfurt, which makes baseball caps to the customer's own design, is an unlikely embodiment of a shift in spending trends that could tear up the monetary policy rule book for advanced economies.
New technology means Moeller can immediately meet any customer order. That cuts downtime and adjustment costs, boosting the firm's margins.
But now the equipment is in place, the business won't need further investment for years, a scenario that if repeated could frustrate central banks' efforts to fuel economic growth and inflation by slashing interest rates to zero or... read more
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