His latest book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism”, won’t make him any friends in monetary policymaking circles.
The Fed responded by reducing interest rates to zero and employing various tools to lower bond yields.
These economic imbalances prevented central banks from returning interest rates to normal levels.
Unless, that is, liberalising economic reforms are enacted that boost productivity and allow interest rates to rise.
Bernard Conolly’s book, “You Always Hurt the One You Love: Central Banks and the Murder of Capitalism” was published in hardback in September.
Persons:
Bernard Connolly, Connolly, won’t, they’ve, Michael Woodford, ”, Alan Greenspan, staved, Lehman, Edward Chancellor’s “, Bernard Conolly’s, Peter Thal Larsen, Streisand Neto, Thomas Shum
Organizations:
Reuters, European Monetary Union, European Commission, Banks, U.S . Federal, stoke, Lehman Brothers, Fed, Reuters Graphics, Treasury, Securities, Thomson
Locations:
U.S, United States, British, Europe, American, “, ”, disequilibrium, intertemporal, Central