Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters
Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters
Ann Pettifor
Opinion

Opinion

The View by Ann Pettifor

Central bankers should work to serve the people, not the markets

  • Since 2007, central bank resources have been expanded and deployed in the private interests of vast, unregulated and systemically risky capital markets across the shadow banking system
  • Such an undemocratic outcome must be reversed and power put back into the hands of elected governments, if we are to avert the climate crisis and looming civilisational collapse

Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters
Federal Reserve chair Jerome Powell testifies before a Senate committee hearing in Washington on July 15. Are we now supposed to look to an unelected, unaccountable fund manager – or, perhaps, to Powell – to rescue human civilisation from collapse? Photo: Reuters
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