As former Federal Reserve Chairman Ben Bernanke was fond of saying, the work of a central banker consists of 98% words and 2% action. But the same words, spoken over time, become narrative. That is, a story, with a plot, that one listens to with pleasure because it consolidates the certainties of those who must take, perhaps by trade, risks. The narrative does not strike everyone immediately, because one does not always identify with the first words revealed. But gradually [...]
JUNE COMMENT 2022 - SCENARIOS, DANGERS AND OPPORTUNITIES