Heed Britain's stern warnings about Mark Carney
“Over eight years at the Bank of England, Carney was at best an indifferent governor, and, at worse, a disappointing failure.“ Despite his huge salary of more than £600,000 a year, more than any of his predecessors had been paid, he seemed to have little feel for the role. The City quickly nick-named him ‘the unreliable boyfriend’ for his constant changes of direction on interest rates.”
By the time Carney left the central bank, he had “created a mess which his successors have struggled to clear up. Inflation spiked up to a peak of 11.1 per cent in the U.K., compared to 5.2 per cent in France or eight per cent in Italy, hardly a country known for controlling prices effectively, largely because the bank had printed too much money.”
Photo by JUSTIN TALLIS/AFP