Fed chief hits at intervention on sovereign debt

US - William McDonough, president of the New York Federal Reserve, yesterday broke ranks with other policymakers in the leading industrialised countries, expressing strong reservations about their drive to intervene between bankrupt governments and private creditors.

"Attempts to impose solutions from outside are unrealistic and potentially counter-productive," he said, in a speech in New York, the Financial Times reported on Friday. "Interventions should seek not to override or suspend market

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: