Director of the Adam Smith Institute, Dr. Eamonn Butler, has had his letter regarding the prospect of Lord Turner being the Governor of the Bank of England featured in the Evening Standard.
Lord Turner’s keenness for “printing money” is no virtue, but precisely why he should not be a “candidate for Governor of the Bank of England” [City Comment, November 5]. It was the bank’s easy money and cheap credit policies that set off this boom-bust cycle in the first place. And their hair-of-the-dog remedy – record low interest rates – just delays an even bigger hangover. We need central bankers who fear making things too easy to be true, not ones who enthuse about it.