From Breakingviews - The big bet against Japan’s new central bank boss: podcast
If any central bank governor was to feel the heat from the past year’s multiple interest-rate increases, the smart money might have been on the U.S. Federal Reserve’s Jerome Powell.
After all, in 2020 he softened the institution’s inflation-focused monetary policy, saying he’d keep rates low to encourage more inclusive employment even if price rises pierced its 2% target. That arguably stayed his hand on hiking more quickly when inflation picked up. Fast forward and Philip Lowe, governor at the Reserve Bank of Australia, looks most exposed.
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