Respected figures such as former US Treasury Secretary Larry Summers or Charles Goodhart of the London School of Economics are issuing plausible warnings of escalating inflation expectations coming to a head in 2022.
The need for remedial action is particularly acute in Europe, where the ECB has run negative interest rates since 2014
ECB has become a de facto agent of fiscal policies, buying the majority of government bond issuance in 2020-21.
Telegraph 21 February 2021
Jacques de Larosiere, 91, is a former head of the International Monetary Fund and former Governor of the Banque de France.
David Marsh is chairman of the Official Monetary and Financial Institutions Forum.
“When I introduced QE in 2009, it was only meant to last a couple of years – no-one thought we’d still be using it in 2021,”
He became Chancellor in June 2007. Later that summer, Northern Rock suffered the first run on a British bank in 150 years – a prelude to the Lehman implosion the following year. “When I took the job, everything looked fine,” the 67-year-old Scot recalls
Alistair Darling Telegraph 22 February 2021