A woman shops at a clothing store in Ginza, Tokyo, in April. Central banks’ monetary easing helped to avert financial disaster a decade ago, but it did little to spur meaningful economic recovery. The G7 economies, including Japan, have collectively grown at an average annual rate of just 1.8 per cent over the 2010-2017 post-crisis period, far short of the average rate of the two previous recoveries. Photo: Reuters

US Fed must move faster to raise rates and cut its balance sheet – before another crisis hits

Stephen Roach says with financial markets this frothy, central bankers must aim for a quick reset of crisis-mode policy interventions, and overblown fears of deflation should not hold them back

Topic |   Banking & Finance

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A woman shops at a clothing store in Ginza, Tokyo, in April. Central banks’ monetary easing helped to avert financial disaster a decade ago, but it did little to spur meaningful economic recovery. The G7 economies, including Japan, have collectively grown at an average annual rate of just 1.8 per cent over the 2010-2017 post-crisis period, far short of the average rate of the two previous recoveries. Photo: Reuters
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