Tackling the ‘human agency’ problem

Central banks are readying themselves to face down assault by populists

Bank of England (BoE) governor Mark Carney said in February that central bank policymakers “in many respects” were “coming to the last seconds” of their “15 minutes of fame”. In comments made at the release of the BoE’s Inflation Report, Carney added that this was a “good thing”.

His remarks come at a time when the concept of political dominance over central bank actions – or, perhaps, even economics – is gaining currency. “Politics tightened its grip over financial markets in the past quarter

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