Despite the positive economic signals, the mood on the financial markets is not characterized by confidence.
The stock markets are still at a high level, but the imagination for a further price increase has faded.
On the one hand, a lot of positive things have already been priced into the current exchange rates; on the other hand, concerns about inflation are weighing on the markets.
However, these concerns are also an expression of a consolidating economic recovery.
It is far from clear whether inflation will be sustainable, because the high rates of increase are also due to the low values twelve months earlier, at the beginning of the pandemic.
This is rightly pointed out by the representatives of the European Central Bank and the US Federal Reserve. It is still too early to decide whether to exit the extremely loose monetary policy. However, the central banks must not ignore a discussion about when it could be so far. But you have to be careful not to get caught up in an inflation dilemma: the markets want to rely on the backing of monetary policy, at the same time the central banks should take the growing inflation worries seriously.