Haldane makes case against ‘economic anxiety’
Communication essential to avoid caution “morphing into fear and fatalism”, says BoE chief economist
Policy-makers need to work on their communication if they are to avoid gloominess on the outlook turning into real damage to the economy, Andy Haldane said today (September 30).
The BoE chief economist made the case for a recovery that has repeatedly surprised forecasters to the upside, albeit with high numbers of job losses and major risks on the horizon. He said the rapid recovery could be jeopardised if policy-makers did not act “to prevent healthy caution morphing into fear and fatalism”.
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