Central Banks Cautiously Optimistic About Taming Inflation, But Warn of Long Battle Ahead

Central banks have taken decisive action to prevent inflation from becoming entrenched and economic activity has been resilient
There is "cautious optimism" that central banks are nearing victory in the inflation fight
Inflationary pressures may become more stubborn going forward as services make up more of economies
Interest rates needed to keep economies on an even keel ("neutral rates") may now be higher post-pandemic
There are warnings about enthusiasm propelling certain tech stocks, like AI-focused Nvidia and Meta, to extreme valuation heights