``Central banks will get naughtier,'' said Jan Loeys, global head of market strategy at JPMorgan Chase & Co. ``They will see inflation and they will have to raise rates.''
OK -- I've been reading financial press for about 20 years. I have never see a central bank described as naughty. Maybe it's an English thing.....
2 comments:
shows what a farce it has become, can't imagine anyone ever referring to volcker as naughty.
Yeah, I reckon its a Commonwealth English thing ... at least, I heard an Australian lecturer describe her students as "naughty" ... a term I would expect for a primary school class, but not for a class in a graduate school in business.
We normally hear the monomania of central banks with regard to inflation and almost complete disregard of their responsibilities with respect to unemployment described as if they were laws of nature. Hearing it described like the actions of willful, misbehaving children is far more accurate, and that's what's surprising.
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