Banks are in over their heads in trouble. Central banks are over their heads in trouble as well. The only thing left to bail them all out would be the IMF — which is within the realm of possibility as we enter a harsh downturn.
Sentiment at IMF annual meeting sours on Fed, BOJ, ECB
The global financial elite has soured on global central bank policy, believing that it’s now counterproductive, doing more harm than good.
That was the message on the sidelines of the International Monetary Fund’s annual meeting in Washington, where in informal survey of more than 100 bankers found more than 70% saying monetary policy is now part of the problem instead of a solution. Continue reading