Former BIS Chief Economist Reveals Why Central Banks Trapped Themselves | William White Video Review
Former BIS Chief Economist William White argues that central banks are trapped in a “debt trap” caused by record-high public and private debt levels, which prevents them from raising interest rates to normal levels without triggering severe economic damage. This paralysis stems from several structural and political-economy constraints: White suggests that escaping this trap requires fiscal discipline, credible legislation for …
