01 / preference
What we would like to see — look, I thought the system — and I’m a prisoner of my past, but the system in the UK, where there was quite a rigorous independence of the committee members on what’s called the Monetary Policy Committee, the equivalent of the FOMC, and they felt individual responsibility, they definitely would vote in different ways than the governor. They didn’t feel the need to have a consensus that was consistent with what the governor thought because they were individually on the hook for their votes and knew how people had voted.
“What we would like to see — look, I thought the system — and I’m a prisoner of my past, but the system in the UK, where there was quite a rigorous independence of the committee members on what’s called the Monetary Policy Committee, the equivalent of the FOMC, and they felt individual responsibility, they definitely would vote in different ways than the governor. They didn’t feel the need to have a consensus that was consistent with what the governor thought because they were individually on the hook for their votes and knew how people had voted.”
- Speaker
- Mark Carney
- Publisher
- Conversations with Tyler