The all too brief premiership of Liz Truss began a year ago this week. The first anniversary is another good chance to reflect not just on what went wrong, but also on what she got right. (As a supporter of ‘Trussonomics’, I feel responsible as well.) There were two big mistakes. One was to underestimate … Continue reading Three big calls that Liz Truss got right
Tag: bank of england
Rishi Sunak should hit his economic targets, but probably won’t get any credit
In January the Prime Minister outlined his five priorities for 2023. As well as promises to cut NHS waiting lists and pass new laws to stop small boats, there were three pledges on the economy. These three at least should be deliverable. The first pledge was to “halve inflation this year to ease the cost … Continue reading Rishi Sunak should hit his economic targets, but probably won’t get any credit
Why Mark Carney is wrong (again)
True to form, Mark Carney has made another unhelpful intervention in the Brexit debate. This time his remarks have generated more heat than light on the impact that the vote to leave the EU might have had on UK inflation. And by appearing to validate fears that UK interest rates have a lot further to … Continue reading Why Mark Carney is wrong (again)
What a Pill
The Bank of England’s Chief Economist, Huw Pill, has caused another public relations disaster by criticising workers for demanding higher pay - and firms for passing on higher costs. Instead, he told a podcast from Columbia Law School, “someone needs to accept that they’re worse off”. Let’s begin with a recap of what Pill was … Continue reading What a Pill
Plain-speaking Economics 