In the week ending February 28, leading stock markets around the world faced their worst week since the financial crisis of 2008. And things could get worse.
How many people realise that the central banks’ great programme for reviving the global economy involves hand-picking which companies and sectors to help out?
Volcker’s legacy involves more than fighting inflation – he showed why central banks need to remain free of meddling from politicians, including the president.
Central banks are expected to act without fear or favour. But to deal with climate change, they may have to encourage financial institutions to favour certain types of activities over others.
In many countries people are now paying more for bonds than they will receive at maturity. These negative interest rates should make it a good time for investment.
Distinguished Professor and Derek Schrier and Cecily Cameron Chair in Development Economics, School of Economics and Business Sciences, University of the Witwatersrand