Prophet of Basel Battles Yellen, Draghi and Easy Money


By Leonid Bershidsky – The general manager of the Basel-based Bank for International Settlements, Jaime Caruana wants to remove the punch bowl from a party that other monetary policymakers claim hasn’t gotten started.

The consensus among these policymakers, who have actual responsibility for economic performance in their respective domains, is that monetary easing is necessary, too-low inflation is evil and tighter supervision of banks will suffice to stave off future financial crises.

For the second year in a row, Caruana’s lonely voice is being drowned out by a Keynesian [2] chorus. more> http://tinyurl.com/prrsywu

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