October 12, 2015
Nope, that isn’t the complaint of leftist agitators in Greece or Latin America, that is a comment from Axel A. Weber, who is identified in the NYT as “a former senior official at the European Central Bank who is now chairman of the investment bank UBS.” This comment appears along with several other complaints from bankers about the I.M.F.’s support for low interest rates by the Fed, the European Central Bank, and other rich country central banks. Of course the I.M.F. comments on monetary policy all the time and has done so since it was created 70 years ago.
The piece also has this gem:
“‘When I travel around the world, I find hardly anyone supporting the Fed’s policy on interest rates,’ said a senior European official, who did not want to be publicly identified criticizing the I.M.F. ‘The fund has become very short-term-oriented.'”
This tells us a great deal about who this senior European officials speaks with.
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