Central bankers of the failed era

I used to read Tim Price regularly. I dropped off for no particular reason. I went back to reading his blog posts. They were usually a delight. They still are.

Apparently, he had publishing a book, ‘Investing through the looking glass’. His fights with FT (Martin Wolf, in particular) and with ‘Economist’ endear him to me greatly.

In this blog post, he takes both ‘Economist’ and FT to the cleaners for their endorsement and continued support of Mark Carney.

Where I am coming to is regarding central banks. If Trump were not to reappoint Ms. Yellen in 2018, he would be well within his rights not do so. Dare I say, it would be the right thing to do.

The candidates who could be appointed Chairperson – Richard Fisher of Fed Dallas (no longer), Kevin Warsh (Hoover) and Professor John Taylor (Stanford University) of the eponymous Taylor rule – will all be  great candidates to replace her.

John Mauldin in his latest missive (Thoughts from the Frontline) mentions the first two actually. I have added the last one. I thought of Kevin Warsh myself and mentioned it to some friends in financial markets but not Richard Fisher.

Indeed, it would be nice if the global central bankers of the failed era – Draghi, Carney and Yellen – are replaced.

The first mentioned would go if Ms. Merkel fails in her attempt at a fourth term as Chancellor. More on that in a separate and next post.


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