An increasing number of Britons are working less than they want to and the issue of so-called underemployment is a better indicator than the jobless rate of slack in the labor market, according to a paper published today.
David Stockman’s warning that the Federal Reserve’s quantitative easing is steering the world’s largest economy toward a crash is at odds with nine quarters of job growth, record stock prices and unprecedented corporate earnings, former fiscal and monetary policy makers said.
The U.K.’s bet on “draconian” spending cuts and some tax increases will slow growth in real income and may reverse the nation’s economic recovery, according to David Blanchflower , a former Bank of England policy maker.
Former Bank of England policy maker David Blanchflower said the risk of a deflation “nightmare” means officials including Federal Reserve Chairman Ben S. Bernanke should keep stimulus in place until there’s more evidence that private companies are spending again.
Central banks should continue to keep rates low to stimulate growth because workers’ wages aren’t rising, damping any increase in inflation, according to David Blanchflower , a former policy maker at the Bank of England.
Austerity measures proposed by the U.K.’s new coalition government run the risk of reviving the recession unless Bank of England Governor Mervyn King loosens monetary policy, former BOE member David Blanchflower said.
Former Bank of England policy maker David Blanchflower said Mark Carney is the “best available” leader for the U.K. central bank and probably will shake up the 318-year-old institution when he takes over.