Why Britain is broke, with Ed Conway
Politics from the New Statesman
00:00
The Bank of England's Responsibility for Inflation
Economists can tell you all they like about the psychology of inflation. But in practice, no one really understands it because it's a psychological thing. The government was splurging money at a crazy rate when furloughs were introduced. In theory, Bank of England should be able to roll with any fiscal punctures and adjust interest rates.
Play episode from 06:15
Transcript
