Richard Werner on quantitative easing and central banks

ORIGINAL AIR DATE: MONDAY, JANUARY 26

Erin is joined by Richard Werner, director of international development and the founding director of the Centre for Banking, Finance and Sustainable Development at the University of Southampton. Richard talks to us about how central banks work and tells us how the term “quantitative easing,” which he coined in the early 1990s, has been wrongly interpreted and executed over the last decade.

He also talks to us about the Federal Reserve’s quantitative easing and gives us his take on wage growth and household debt levels. The credit easing that Ben Bernanke did in the first round of quantitative easing, qualitatively was closer to what Werner proposed when he first created the idea of quantitative easing in the early 1990s. But the other forms of QE will not increase credit growth because bank balance sheets are still encumbered. Richard believes a target for nominal growth would be an improvement over present central bank policy.

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Видео Richard Werner on quantitative easing and central banks канала Boom Bust