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Not so super

Giants of central banking will be cut down to size

Swaha Pattanaik 

Swaha Pattanaik Central bankers were the next best thing to superheroes during the financial and euro zone crises. But after rescuing banks, markets and even countries, they have finally encountered their kryptonite: consumer prices. Inflation has refused to materialise despite the most unorthodox efforts of the most influential rate-setters. US Federal Reserve Chair Janet Yellen, European Central Bank President Mario Draghi and others in the Group of Seven industrial nations have slashed policy rates to record lows and together bought financial assets worth more than $10 trillion - roughly equivalent to ...

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First Published: Wed, December 30 2015. 21:32 IST