This chapter explores the question of whether central banks are truly needed and delves into their goals of maintaining stable prices, steady economic growth, and financial stability. It also discusses the argument that central banks have made the economy more chaotic, using the 2008 global financial crisis as an example.
A few days ago, RBI Governor Shaktikanta Das received an A+ rating in The Global Finance Central Banker Report. It was the top mark that acknowledged how well he’s handled affairs at the central bank. And it’s a big deal because only two other central bankers got an A+ rating.
But that got us thinking about something — the utility of these central banks.
So in today’s episode for 6th September 2023, we decided to explore this a little more. But please remember that we’re trying to summarize decades of debate into about 1000 words. So strap in.
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