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Unelected central bankers are too mighty for everyone's good, says former policy maker
Central banks were forced to largely go it alone in the effort to save the world from economic ruin less than a decade ago, but it left monetary policy makers wielding too much power and vulnerable to a backlash that could undermine their independence unless they’re reined in, according to a former central banker who helped shape the global response to the financial crisis. Paul Tucker, a longtime Bank of England official who served as deputy governor from March 2009 to October 2013, takes an exhaustive look at the role of central bankers alongside other unelected experts in modern democracies, in his book, ... (full story)
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