Below is an extract of a post published on Guardian titled "Of course Trump hates central bankers – they tell the truth | Torsten Bell"
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Make america great again.- Donald Trump.
What counts is not necessarily the size of the dog in the fight. It's the size of the fight in the dog.- Dwight D. Eisenhower.
The best executive is the one who has sense enough to pick good men to do what wants done, and self-restraint to keep from meddling with them while they do it.- Theodore Roosevelt.
Discipline is the soul of an army. It makes small numbers formidable; procures success to the weak and esteem to all.- George Washington.
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Via: Guardian
When the Fed locked horns with the president before Christmas, it was clear who wolud be the winner Central bank independence is the denim jeans of economic ideas – not fresh but still about as fashionable as economic policy gets. For a quarter of a century, more or less everyone has agreed that central banks should be operationally independent of government. Independent central bankers are better placed than politicians to set the interest rates the economy needs. The latter face the “time inconsistency” problem: they want to cut rates to make us happy today – before an election, for example – even though it will damage the economy tomorrow. Related: Blame an ageing population for fewer new firms in the US | Torsten Bell Continue reading…
