HSBC Chief Calls for Tougher Inflation Fight, Industry Changes

The chief executive officer of HSBC Holdings PLC (ADR: HBC) , Europe’s biggest lender, today (Tuesday) called on the U.S. Federal Reserve and other central banks to make fighting inflation a priority. “Inflation is a long-term problem because there is no long-term will to solve it,” Chief Executive Officer Michael Geoghegan said during an informal shareholders meeting in Hong Kong. He went on to criticize central banks that have kept interest rates low in response to curtailed economic growth and weak housing markets. But due in part to low interest rates, inflation has escalated as costs for food and energy soar, dampening consumer… SHARETHIS.addEntry({ title: "HSBC Chief Calls for Tougher Inflation Fight, Industry Changes", url: "http://jutiagroup.com/2008/05/27/hsbc-chief-calls-for-tougher-inflation-fight-industry-changes/" });