BOE Independence Still Worth Defending, Says Turner

The transcript discusses the views of Charles Goodhart on central bank independence, highlighting potential conflicts between central banks and treasuries. It explores future economic policies, including the possibility of fiscal deficits financed by central banks, while maintaining independence. The effectiveness of central banks in achieving low inflation is acknowledged, but the need for broader objectives is emphasized. The transcript also critiques the reliance on inflation targeting before 2008, noting the unresolved global debt issue and the necessity of low interest rates.

What does the speaker identify as a significant issue that has not been resolved since 2008?

In what way does the speaker believe low and stable inflation is insufficient for macroeconomic stability?