Mises Wire

Audio: Jeff Deist on Central Banks on the BBC

Do central banks have a plan? Do they know what they’re doing? The BBC wonders, and Mises Institute President Jeff Deist provides some of the answers:

Should central bankers, once seen as the new rock stars of the finance world, be more aptly described as failed heroes? As the world’s finance ministries battle to revive their ailing, post-crisis economies, they have increasingly turned to the central bankers to do whatever it takes according to Mario Draghi, to keep those economic wheels turning. As a result, interest rates have been slashed in the rich world and some banks have launched massive programmes of quantitative easing. But have these technical remedies for economic stagnation run their course? As the debt piles rise and the rates approach zero or even negative in some countries - are the bankers’ big bazookas as they were once memorably called, running out of ammunition?

The BBC’s Ed Butler is joined by three guests — DeAnne Julius, a founding member of the Monetary Policy Committee which sets the Bank of England’s interest rates, Jeff Deist, president of the Mises Institute, a long-time critic of the tactics deployed by the leading central banks, and Usha Thorat, a former deputy governor of the Reserve Bank of India in Mumbai.

Download the interviews as an mp3. 

image/svg+xml
Image Source: iStock
Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. 

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

Become a Member
Mises Institute