The death of central bank independence is inevitable and justifiable in an era when interest rates are low forever and asset price inflation is as explosive as the global money supply.
From an emailer: "This has an interesting perspective on Grant Robertson’s move to have more control of the reserve bank monetary policy....,he’s in favour of it."
From an emailer: "This has an interesting perspective on Grant Robertson’s move to have more control of the reserve bank monetary policy....,he’s in favour of it."
I agree, and I agree with Grant on this. I just wish he'd be more prescriptive and use QE to fund direct Govt payments and infrastructure.