Stephen Kinsella on Economics

Why should US or Indian or Chinese monetary policy concern Ireland? So much of what we call ‘industrial policy’ here is really policy for US-based multinationals. Changes to the banking system in the US, and more importantly business conditions there, can signal either good or bad times for us.

30th September, 2018
2

Central bankers typically disappoint their political masters. Since the 1980s, most central banks around the world have in theory been ‘independent’, that is, free of direct, day-to-day control by politicians. Of course, the reality is far from that. Still, Federal Reserve chair Jay Powell annoyed Donald Trump last week when he increased interest rates for a third time this year, and for the eighth time since December 2015. Nobody was surprised by this move.

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