Bank of England Governor Makes a Twitter Joke for Central Bankers
NEW YORK (TheStreet) -- Bank of England Governor Mark Carney showed he has a sense of humor, and during a wonky speech Monday about monetary policy, used that apparent wit to offer a fist bump to Twitter
"Now I'm in the camp that think's it's unlikely that communicating in 140 characters represents the end of human progress -- as useful as that discipline is," Carey said.
Carney, speaking in New York on Monday, was explaining the possibility of why advanced economies have entered a prolonged low-growth period since the financial crisis, a situation he attributed to a decline on the supply side "such that full utilization of resources is consistent with slower growth."
Carney made his reference to Twitter -- without using the company's name -- in relation to an argument that central banks should not always consider supply as exogenous and understand that central bank policy can directly influence decisions of how much individuals choose to work and how much firms choose to invest.
Really what he meant is even though narrowing information down to 140 characters can be useful, it's still critical to expound upon that information, especially when it pertains to market-moving monetary policy.
You can watch the entire video here -- central banking jokes included.
-- Written by Joe Deaux in New York.
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