Attention Armchair Economists

Generali

Graham_Devon wrote: »

This is probably true. But maybe that's the reason people so often talk about credibility. My beef isn't that it's not hard to do their job, and have never suggested that. I suggested my issue with the BOE is to be specifically stating such words as above, time and time again. I don't think it does anyone any favours.

TBH I doubt that very often members of the MPC use the words that are attributed to them and when they do they're taken out of context. IME bankers tend not to use phrases like, "I insist that inflation will rise to 5% and then fall rapidly to 2%". It just doesn't ring true to me. What is far more like them are the multi-page speeches and interminable reports with graphs and tables talking about downside risks.

wotsthat

Generali wrote: »

TBH I doubt that very often members of the MPC use the words that are attributed to them and when they do they're taken out of context. IME bankers tend not to use phrases like, "I insist that inflation will rise to 5% and then fall rapidly to 2%". It just doesn't ring true to me. What is far more like them are the multi-page speeches and interminable reports with graphs and tables talking about downside risks.

I don't think the MPC need to worry about credibility in the current circumstances. If we were in a benign economy and their forecasts were consistently out that would be a different matter.

I'm slightly concerned that the MPC now seem to be attracting 'celebrity' members who overtly push their own agenda outside of the MPC. Some members are not exactly household names but they do seem to be trying to encourage media attention.

Radiantsoul

wotsthat wrote: »

Some members are not exactly household names but they do seem to be trying to encourage media attention.

I think the B-Factor would be great. Members could be retained on the basis of public votes. And at 10p a call it would be a welcome income stream for an impoverished government.

I think it would be nice to see them break down into tears as they recount tales of childhood poverty.

System

DervProf wrote: »

Apart from Hamish's. Hamish always gets it right, even when he's wrong.

This is getting quite sweet now, gives me a warm fuzzy feeling. Cleaver was onto something.

HAMISH_MCTAVISH

Joeskeppi wrote: »

This is getting quite sweet now, gives me a warm fuzzy feeling. Cleaver was onto something.

First geneer, now dervprof....

Maybe I should come up with a name for them.

Hamish's hags?

purch

I'm slightly concerned that the MPC now seem to be attracting 'celebrity' members who overtly push their own agenda outside of the MPC. Some members are not exactly household names but they do seem to be trying to encourage media attention.

Yes.

Some of the members of the MPC have not done themselves, or more importantly the credibility of the Bank many favours with some of their "public" comments.