Ex-BoE's Buiter attacks Fed at Jackson Hole

Willem Buiter, a founding member of the Bank of England's Monetary Policy Committee, has panned the Federal Reserve's response to the financial turmoil.

In a paper presented at the Jackson Hole symposium, one of the most high-profile gatherings in the central banking calendar, Buiter sharply criticised the Fed's series of rate cuts as "excessively aggressive" and said the central bank had "created moral hazard in an unprecedented way".

The economist, now a professor at the London School of

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