Of course, we don't know yet what kind of Governor of the Bank of England Mark Carney will make; however, being ex-Goldman Sachs is not a good start. In the
Telegraph article, Carney sounds just like Ben Bernanke:
"Mr Carney, the current Bank of Canada governor who takes over from Sir Mervyn
King next June, said central bankers should consider committing to low
interest rates until inflation and unemployment met “precise numerical
thresholds”, or even changing “the policy framework itself” to stimulate a
desperately weak economy."(The Telegraph)
The comments on the article below seem to generally reflect a lack of confidence in any central banker.
Mark Carney, Incoming Governor of the Bank of England, Dives Straight Into Monetarist Loony Bin
By Mish - Global Economic Trend Analysis
Mark Carney, Bank of Canada governor and surprise pick to replace
Mervyn King as incoming governor of the Bank of England, dove straight
into the monetarist looney bin today with policy proposals.
The Telegraph reports Mark Carney hints at need for radical action to boost ailing economies
Mr Carney, the current Bank of Canada governor who takes over from Sir
Mervyn King next June, said central bankers should consider committing
to low interest rates until inflation and unemployment met “precise
numerical thresholds”, or even changing “the policy framework itself” to
stimulate a desperately weak economy.
His words were directed at the Bank of Canada but will be seen as a hint
that he will push for radical action in the UK, where the economy has
been stagnant for two years. On his appointment, he said that he would
be going “where the challenges are greatest”.
Addressing the Chartered Financial Analyst Society in Toronto, Mr Carney
said that in major slumps: “To achieve a better path for the economy
over time, a central bank may need to commit credibly to maintaining
highly accommodative policy even after the economy and, potentially,
inflation picks up.
Read the whole article
here
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