Bloomberg (August 19)
The annual meeting of central bankers kicks off this week in Jackson Hole and it’s worth paying attention. “Central bankers, a group of largely independent technocrats, wield more power over the fates of politicians, investors and regular folk than ever before. In the absence of government action, they are bearing most of the burden of supporting economic recoveries in the U.S. and Europe. With their bond purchases and other unconventional policies, they have become a major force holding up financial markets around the world.”
Tags: Bond purchases, Central bankers, Economic recoveries, Europe, Financial markets, Government, Investors, Jackson Hole, Politicians, Power, U.S.
Wall Street Journal (June 29)
“The real lesson of recent days concerns the Fed’s ability to exit from its extraordinary interventions. The mere hint that the Fed might eventually taper its bond purchases sent markets into anxious gyrations…. Imagine the uproar when the Fed finally decides to act, as it eventually must.”