Fed’s Bullard blasts ‘fiscalisation’ of ECB

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Central banks, including the European Central bank (ECB), are suffering from a "creeping politicisation", causing many to adopt fiscal-style policies, which harms their independence and ultimately their effectiveness, according to James Bullard, the president of the Federal Reserve Bank of St Louis.

During remarks at a panel discussion on January 4, Bullard said the ECB's outright monetary transactions (OMT) programme was a prime example of such politicisation, as it appeared to be a method of

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