Friday, July 15, 2016

Bank of England’s Chief Economist Calls for ‘Muscular’ Stimulus in August

In a speech published Friday, Bank of England Economist Andrew Haldane said the outcome of the referendum June 23 has created a fog of uncertainty over the economy’s prospects that is likely to “materially weigh on domestic spending by both companies and households for the foreseeable future.”

OMG, Krugman is actually better on this.(See: Krugman Blows Up Bad BlackRock Brexit Analysis)

But he did end with a typical Krugman-like call for crazed money printing.

“In my personal view, this means a material easing of monetary policy is likely to be needed, as one part of a collective policy response aimed at helping protect the economy and jobs from a downturn,” Haldane said.


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