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Former governor of the Bank of England:Needless money-printing fuelled inflation

• zhte415 4y ago
  The context of the comment, and not needless as editorialised by The Spectator, is the recent pandemic. > Governments stepped in and put in a lot of money for furlough schemes or raising unemployment benefits. That was very sensible,’ he said. ‘The problem was that central banks also printed a great deal of money and that wasn’t needed… it put a lot of money into the system.’ Not the massive post 2008 QE, or what preceded and caused that, King was governor from 2003 to 2013, not a comment on that.
  • yucky 4y ago
    We didn't have massive inflation after 2008 though.
• albertopv 4y ago
  Of course he is saying that. Imagine a globalised world, with supply chains spanning dozens of countries and thousands of km long, where central banks have no way to control inflation. What's going to happen to central banks (and their governors) power?