Seven in Ten Bankers Agree Monetary Policy Is No Longer Viable

One thing most financial experts seem to agree on these days is how central banks find themselves in a precarious position. The Federal Reserve is sharing that opinion, as they feel central bank policy is doing more harm than good. In fact, 70% of bankers believe the monetary policy is a thing of the past. Central banks are on very thin ice, and more cracks start to appear every single day.

Central banks have been using some interesting monetary policy options for several decades now. Boosting local economies is not an easy feat, but introducing helicopter money is no longer a valid option. Something will have to change sooner rather than later, but no one has the answer to this pressing problem.

Monetary Policy Reforms Are Direly Needed

To make matters even worse, governments are not extending a helping hand either. In fact, most governments would rather sit on the sideline and watch things unfold. Their confidence in central banks is very high, although it seems somewhat misplaced. Consumer trust in the central banking industry is at an all-time low right now.

Harvard University’s Paul Tucker phrased the situation as follows:

“The biggest problem that monetary policy makers face is…they’ve never

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