Monetary Policy Latest News: Central Banks Criticize Europe for Political Gridlock on Economy

Now watching

Next video starts in : 7 Play

Monetary Policy Latest News: Central Banks Criticize Europe for Political Gridlock on Economy

Monetary Policy Latest News: Central Banks Criticize Europe for Political Gridlock on Economy
Replay video
Up next

Wilson Walks, Ferguson Burns

Unlock your personal NFL Now stream by signing in to NFL.com

Monetary Policy Latest News: Central Banks Criticize Europe for Political Gridlock on Economy

by Wochit 1:08 mins

The Bank for International Settlements, a group representing central banks including the Federal Reserve and the European Central Bank, warned political leaders that they should not expect central banks? cheap-money policy to hold the global economy together forever. The organization, based in Basel, Switzerland, said in its annual report that politicians should finally do their share of ?the hard but essential work of adjustment.? Only a few days ago, the leading Wall Street debate was whether central banks had too much control over the financial markets. Suddenly, the nagging notion is whether central banks are losing, or surrendering, control. A Federal Reserve voting member says the Fed's decision to announce details about when it would trim its bond-buying program was "inappropriately timed." St. Louis Federal Reserve Bank President James Bullard says the Fed should have waited for more "tangible signs" that the economy was strengthening and inflation was closer to the Fed's 2 percent target.

View Comments (1)