When Central Bankers Become the Target
With inflation surging, central bankers would be wise not to assume that their reputations will automatically recover and the status quo ante will be restored. They will need to marshal their defenses more effectively and should not regard central bank independence as the end of monetary history.
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LONDON – Who would want to be responsible for monetary policy in 2022? To judge from the fierce economic and political debates underway around the world, it is as though open season has been declared on central bank governors: They are being shot at from all sides.