European Union Economic and Monetary Affairs Commissioner Olli Rehn has emerged as the frontman for crisis-management policies driven out of Berlin that are spreading economic pain as debt turmoil reignites.
Cleaning up after the housing bubble burst seven years ago turned out to be a lot harder than the Federal Reserve imagined. And for a while, it seemed as if the cost of risk-taking run amok was enough to put the fear of God in central bankers.
Negotiations weren’t on the agenda when British Chancellor of the Exchequer George Osborne and Bank of Canada Governor Mark Carney sat down for a drink to get better acquainted on a terrace overlooking the Mediterranean in the harbor city of Marseille on Sept. 9, 2011.
Investors may continue buying gold amid concerns about the economic recovery and the prospects for inflation, said William White , chairman of the economic development and review committee at the Organization for Economic Cooperation and Development.
Bank of Canada Governor Mark Carney may bring new thinking to the U.K. central bank and refresh its ability to tackle recessions and potential financial crises, said William White of the Organization for Economic Cooperation and Development.
Portuguese Prime Minister Jose Socrates ’s resignation “complicates” the process of securing any potential international rescue package, said William White of the Organization for Economic Cooperation and Development.
Raghuram Rajan accurately warned central bankers in 2005 of a potential financial crisis if banks lost confidence in each other. Now the International Monetary Fund’s former chief economist says the Federal Reserve should consider raising rates, even as almost 10 percent of the U.S. workforce remains unemployed.