What Is the Point of Central Banks’ Interventions?

Dimitris N. Chorafas

Chapter 12 in Basel III, the Devil and Global Banking, 2012, pp 241-266 from Palgrave Macmillan

Abstract: Abstract There is a saying in the financial industry that, while central bankers have not been perfect, politicians have been worse. When governments took responsibility for decisions that should have been made by the central banks, or dominated central banking policies, they created a devastating inflation that: Destroyed savings, Distorted incentives, and Imposed the worst sort of taxation on the whole population.

Keywords: Monetary Policy; Central Bank; Federal Reserve; Deposit Insurance; Federal Fund Rate (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-35842-3_12

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DOI: 10.1057/9780230358423_12

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