Donald Kohn: a life in central banking

A hiking enthusiast recounts a story about how he and a fellow central banker struggled on a long and demanding climb.

Central bankers have a fondness for metaphors and analogies. William McChesney Martin, a former chairman of the Federal Reserve, talked of central banks' role of taking the punch bowl away just as the party gets going. Mervyn King, the governor of the Bank of England, once likened market interest rates to the five English footballers in the 1986 World Cup stupefied by Argentina

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