Gyrating Stock Markets and the New Fed – Discussion on BBC2’s Newsnight

Together with Gillian Tett of the Financial Times, Ann Pettifor appeared at the top of the Newsnight show on Tuesday, 6th February. After the stock market gyrations of the last few days, the discussion majored on whether viewers had once again to prepare for the worst. Ann argued that the economic model adopted after the crisis – of massive liquidity injections by central banks (QE or monetary easing) coupled with fiscal contraction (‘austerity’) had failed the public. A new model, of monetary tightening (higher interest rates and fewer asset purchases) together with President Trump’s fiscal expansion (to pay for tax cuts) was rightly perceived as a threat to the global economy. You can watch the show here, on the BBC’s Iplayer.

 

 

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