Indeed, ministers and health officials are far more important for the economy now, than central bankers. /Chris Giles, FT, 2 October/
In the 2010s, the banking sector was the key player in the global economy. However, lack of proper financial regulation led to the global financial crisis in 2007/2009. Of course, central bankers solved the crisis, because it was a full-fledged financial crisis.
This time it is different, the present crisis is a mixture of a pandemic, fear and all sorts of challenges to sustainability. To solve it, we need the right policies of really efficient, creative and able governments.
Governor Matolcsy, MNB, the Central Bank of Hungary
Re “Central bankers have been relegated to second division of policymakers”