Power of central banking economic concerns and trade deal circus pushed aside by Fed caving, from QT and raising rates to easing and NotQE in 12 short months buybacks, financial engineering, multiple expansion...not your father's growth engine 150% market cap to gdp, or bust
The @FT on the push by some national #CentralBanks in #Europe to limit the flexibility and power of the @ecb President. Some long-term observers of global central banking may see this as a potential "empire strikes back" moment. Let's see how it plays out.
Big tech: a threat to banks? - Central Banking "big tech firms already have market power to buy financial services on good terms from a sector that has excess capacity and faces strong regulatory pressure"
Interesting question by @tca_tca . Seigniorage unambiguously belongs to the sovereign. It is what makes any banking possible - central banking or commercial. Can a Govt. hand over this sovereign power to a private hands? 1/n
Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory state by Paul Tucker. Should be a must read book not only economists but also by all civil servants.
How much influence should central bankers wield in a democracy? That’s the question Paul Tucker ponders in “Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State”, and his answer is thoughtful and robust, says :
Central Banking facilitates crime, dramatically worsens inequality & gives people who should be grading papers real power. Time to end it.