Central bankers no longer supermen of global financial economy [audio 23min]
For the last six decades, central bankers from the most developed countries have managed the global economy and have rarely broken into a sweat. They have run the international financial system, suppressing inflation when needed and creating the stability necessary for our economies to flourish, with the aid of a powerful set of economic levers handed to them after the Second World War. Last year these levers came off in their hands. The central banking system has suffered a chronic power outage. Robert Peston examines how those who were once the supermen of the global financial economy became seven stone weaklings. Preston is Business Editor for BBC News.
Read entire article at BBC World Service "Failure at the Central Bank"