Monetary policy, at risk of politicisation

Not a week goes by but Donald Trump manages to publicly insult the Fed chair. In Turkey, president Erdogan has sacked the governor of the central bank. In India and Argentina, other central bank governors have resigned due to clashes with the government. In Europe, heads of state and government have waged a silent battle to see who would head up the ECB. After the global financial crisis, the central banks acquired so much weight that governments now view their independence with ...