Martin Wolf talks to Mervyn King: why central banks got inflation wrong

单集文稿 ...

• 00:00

  Do you know which country has got the highest tariffs against it?

• 00:05

  Oh, is it the Sotos?

• 00:07

  Yes, it is the Sotos.

• 00:08

  Now you have to admit, that's sort of weird.

• 00:16

  I've been friends with many central bankers over the past 50 years.

• 00:20

  They come in all shapes and sizes.

• 00:23

  Some are charismatic,

• 00:24

  some more unassuming,

• 00:26

  and some frustratingly enigmatic.

• 00:30

  Today, I'm sitting down with a man who has never shied away from expressing strong opinions.

• 00:35

  The implementation of Brexit, the handling of the post-pandemic inflation spike,

• 00:41

  the current government's fiscal policies, they've all attracted his sharp words.

• 00:47

  Today, I want to hear his views about the shocking new challenges that now face the world's central banks.

• 00:54

  The global economy is fragmenting with an apparent coup de grace delivered by Donald Trump's tariff increases early this month.

• 01:02

  Meanwhile, the independence of the world's most important central bank,

• 01:06

  the Federal Reserve, is also under threat from the White House.

• 01:10

  So how should the Fed and other central banks respond?

• 01:18

  This is The Economics Show.

• 01:21

  I'm Martin Wolf, the FT's Chief Economics Commentator.

• 01:25

  I'm joined here in our London studio by Mervyn King, who was Governor of the Bank of England until 2013.

• 全部文稿