Who Should Have the Final Say Over Central Banks?
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The 2008 financial crisis and its aftermath vaulted central bankers from obscure technocrats to leading actors in the global economy.
Institutions that had been known for a behind-the-scenes role mostly tweaking interest rates took on the mantle of Marvel-style first responders. Policymakers such as Federal Reserve Chair Ben Bernanke and European Central Bank President Mario Draghi became household names, popping up on primetime television slots or taking center stage at major conferences. Mark Carney, former head of both the Bank of Canada and the Bank of England has launched a bid to replace Justin Trudeau as head of the Liberal Party of Canada. The current Bank of England governor, Andrew Bailey, has even taken to TikTok to explain policy.
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