Ten years ago at Fathom’s first Monetary Policy Forum we called for ZIRP and an aggressive unconventional monetary easing. In the UK, QE happened, but it had very little impact on the real economy beyond the important first few months. We have argued at some length that QE, combined with ultra-low interest rates, has done more harm than good.
So now, ten years on, we are pushing for a reversal of these policies. It’s time for the world to shift decisively to a higher-yield environment, even if the adjustment proves painful. This crucial conference was ten years in the making. Erik Britton and Andrew Brigden were joined by a distinguished panel of former MPC members — Sir Charlie Bean, Rachel Lomax and Andrew Sentance.
Click here to view a summary of the event.
Click here to view pictures of the event.