Wednesday 10 July 2024

So maybe, just maybe, we shouldn't give central bankers the keys to the whole monetary system.


"To repeat one of my consistent lines, human beings are fallible, they make mistakes. Central banks – here and abroad – are made up of humans, so they make mistakes. Really serious ones, of the sort seen in the last few years, shouldn’t happen but they do. One might even offer perspectives in mitigation: the pandemic was something quite extraordinary, and many people (here and abroad) misread the macroeconomics of it for too long. But those responsible need to take responsibility for the mistakes that were made."
~ Michael Reddell from his post 'Still avoiding responsibility'

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