The Bank of England has named former US Federal Reserve chairman Ben Bernanke to lead a review into its economic forecasting – a move that seems designed to defuse criticism that the UK central bank acted too slowly to contain inflation.
Mr Bernanke, described by colleagues as a “pre-eminent economist”, led the US central bank through the global financial crisis until 2014 and will support an external probe into the BoE’s forecasting approach and monetary policy making, the BoE said in a statement on Friday.
