Carney's Bank of England Legacy: A Critical Review
Mark Carney's governorship of the Bank of England (2013-2020) coincided with a period of unprecedented economic and political turbulence. His legacy is a complex tapestry woven from both lauded policy innovations and significant controversies, demanding a critical assessment to understand its lasting impact on monetary policy and central banking communication. For more on Carney's career, see his biography. Forward Guidance: A Calculated Risk? Carney championed "forward guidance," aiming to improve communication transparency and market predictability regarding future interest rate changes....