The U.S. and the euro zone are preparing to lower the price of money.

The big question is how fast and deep they will be. Once this crisis is over, the world will not require new monetary rules. Central banks have already entered the final mile of the fight against inflation. The ECB already had to say mea culpa for delaying the rate hike. Now it runs the risk of not reaching the disinflation process in time. The situation is different in the United States than in Europe.