- කිත්සිරි ද සිල්වාTop contributor
- Posts : 9679
Join date : 2014-02-23
Age : 66
Location : රජ්ගම
From heroes to bystanders?
Central bankers who led the charge to pull the global economy from a cliff during the financial crisis now risk becoming bit players, ill-equipped to snap the world out of sluggish growth and its addiction to cheap credit.
Despite near-zero rates and $7 trillion of monetary stimulus unleashed by central banks in major industrial economies, investment and growth is stuck below pre-crisis levels and tepid demand is hurting developing economies by depressing prices of their commodity exports.
“Memo to the human race: you tried all this monetary policy stuff… and at the end of the day it did not succeed in getting you back where you need to be,” Paul Sheard, chief global economist for Standard & Poor’s, told Reuters. Sheard suggested it might be time for central banks to admit their interest rates are stuck at zero, and for other policymakers to step up.
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- slstockVeteran
- Posts : 6216
Join date : 2014-06-12
Re: From heroes to bystanders?
I extract below...
"Despite near-zero rates and $7 trillion of monetary stimulus unleashed by central banks in major industrial economies, investment and growth is stuck below pre-crisis levels and tepid demand is hurting developing economies by depressing prices of their commodity exports.
“Memo to the human race: you tried all this monetary policy stuff… and at the end of the day it did not succeed in getting you back where you need to be,” Paul Sheard, chief global economist for Standard & Poor’s, told Reuters. Sheard suggested it might be time for central banks to admit their interest rates are stuck at zero, and for other policymakers to step up."