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Real Vision: Can Central Banks Save the Economy from Global Financial Crisis?

Real Vision: Can Central Banks Save the Economy from Global Financial Crisis?

2019-10-29 17:15:00
REAL VISION, Guest Contributor
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Real Vision Recession Watch Overview:

  • If a global recession comes, how will the world’s major central banks respond?
  • Will their typical response of cutting interest rates be enough to stave off a major crisis?
  • In this conversation with Real Vision’s Roger Hirst, Christophe Ollari, founder of Ollari Consulting, addresses these questions.

See long-term forecasts for the US Dollar and other major currencies with the DailyFX Trading Guides.

As the US-China trade war drags on, concerns about a global recession have grown louder. Various economic indicators have started to flash warning signs, such as the inversion of the US Treasury yield curve. With fiscal policymakers still hamstrung in developed economies, all eyes are on monetary authorities – central banks – to provide cushioning for markets.

Central banks like the Federal Reserve and European Central may be the ‘only games in town,’ but that may not be good news for global financial markets – particularly as central banks slash interest rates towards and below zero and flood markets with liquidity.

In the short-term term, propping up financial markets higher may seem a net benefit in the absence of genuine economic growth, but there are serious risks associated to this state in the long-term. Expectations for more support will grow exponentially with time. Capital distribution outside of the healthy business cycle will encourage funds to underperforming or zombie businesses that will further weaken economies.

If a global recession comes, how will the world’s major central banks respond? Will their typical response of cutting interest rates be enough to stave off a major crisis? In this conversation with Real Vision’s Roger Hirst, Christophe Ollari, founder of Ollari Consulting, addresses these questions.

--- Produced by Real Vision©

Read more: US Recession Watch, October 2019 - US-China Trade War Talks Dash Concerns

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