She doesn't subscribe to his pessimistic view of the state of economy. On the contrary, she thinks it is just on the rise.

I climbed to the top of a small rise and realised that the mist was little more than a few feet deep, and though it was only a short climb, I found myself completely above it and looking at a wonderfully clear view of Skiddaw with the sun setting in the west.

Many policymakers in emerging markets view the rise in inflation as a short-term supply shock and so see little need to raise interest rates.