This week’s United States Federal Reserve policy meeting encapsulates all that is wrong with modern day central banking.
Central banks today are like overly-protective parents too scared to let their children learn to walk on their own. As a result, we’re breeding a bunch of investors who rely on central banks rather than their own due diligence to protect them from risk.
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David Bassanese is chief economist at BetaShares Exchange Traded Funds. He writes on markets specialising in debt, derivatives and monetary policy. He worked at the federal Treasury, OECD and Macquarie Bank. Connect with David on Twitter.
