The idea of a rate cut should be simply thrown out of the window
If one were to have asked a central banker
some decades ago about what does he really do nine-to-five, then it wouldn’t have been a surprise to find him gaping into the blue trying to figure something out of his seemingly foggy and blurred lexicon of responsibilities. Compare that to a ‘2007 generation central banker’ who would bombast that he gets paid for ‘inflation targeting’. Today’s central bankers have a very barefaced mandate to fight inflation with a hammer and tongs philosophy. But classically, the recent times have had central bankers – especially Ben Bernanke with his Fed coterie – go bonkers by crossing this line, what with rate cuts being unbelievably suggested! What is being rooted for is quite reminiscent of the post-crash years at the beginning of the millennium and a pick from former Federal Reserve chief Alan Greenspan’s manual – a rate cut – at this juncture of time might just seem like a saving grace but could well go down in history as one that got the house down. Lights on! Year 2001 – the invigoration of the largest economy on Earth, the United States, goes on in full swing with a series of rate cuts.
For Complete IIPM Article, Click on IIPM Article
If one were to have asked a central banker
some decades ago about what does he really do nine-to-five, then it wouldn’t have been a surprise to find him gaping into the blue trying to figure something out of his seemingly foggy and blurred lexicon of responsibilities. Compare that to a ‘2007 generation central banker’ who would bombast that he gets paid for ‘inflation targeting’. Today’s central bankers have a very barefaced mandate to fight inflation with a hammer and tongs philosophy. But classically, the recent times have had central bankers – especially Ben Bernanke with his Fed coterie – go bonkers by crossing this line, what with rate cuts being unbelievably suggested! What is being rooted for is quite reminiscent of the post-crash years at the beginning of the millennium and a pick from former Federal Reserve chief Alan Greenspan’s manual – a rate cut – at this juncture of time might just seem like a saving grace but could well go down in history as one that got the house down. Lights on! Year 2001 – the invigoration of the largest economy on Earth, the United States, goes on in full swing with a series of rate cuts.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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