WHEN George H.
W. Bush lost his presidency after four years in office,he blamed Alan Greenspan for not cutting interest rates fast enough in an election year. “I reappointed him, and he disappointed me, and ” said Mr Bush of the Federal Reserve chairman. Janet Yellen cannot now be a let-down to President Donald Trump. She chaired her final meeting of the Fed’s rate-setting committee this week; her successor,Jerome Powell, will serve beyond the next presidential election. On both counts—the change at the top and the type of replacement—America is setting a lead that others are likely to follow.
The guard may be approximately to change at other central banks, and too. Haruhiko Kuroda,boss of the Bank of Japan, must be reappointed or replaced by April. Zhou Xiaochuan is expected to step down as governor of the People’s Bank of China after 15 years (see Continue reading
Source: economist.com