The obvious question Bailey had to answer as a consequence is where is the evidence of excess demand? In a country with consumption flatlining and incomes falling there can be none. He obviously has not noticed that simple fact.
Ahem:
The obvious question Bailey had to answer as a consequence is where is the evidence of excess demand? In a country with consumption flatlining and incomes falling there can be none. He obviously has not noticed that simple fact.
Ahem:
The obvious question Bailey had to answer was, short term, “Why were you buggers so slow off the mark?” and, long term, “Why did you buggers tolerate ZIRP and QE for so long?”
Bailey is nothing but a politician. You can see that by the way he’s attempting to blame everyone else for the current shit storm but himself. So far he’s blamed people retiring too early, workers for asking for pay rises, businesses for putting up prices, Covid, and the Ukraine war. His own role in printing money like water for the politicians to spend like drunken sailors on the sniffles, and then not pulling the plug and raising rates earlier, not so much.
He f*cked up the FCA as well, and still got the BoE job. A typical public sector buggins turn promoted despite repeated failure type, ie a complete c*nt.
Bailey is nothing but a politician.
Yes. His pronoucement when the ghastly Jeremy Hunt was imposed prior to the Rishi coup that Hunt was much more to his liking was an overtly political intervention which should have seen hime dismissed.