Skip to Content

Former US Federal Reserve chair to lead Bank of England review on economic forecasts

KIFI

By DANICA KIRKA
Associated Press

LONDON (AP) — Ben Bernanke, the former chairman of the U.S. Federal Reserve, will lead a review of the Bank of England’s economic forecasting amid concern that inaccurate predictions about growth and inflation hampered the central bank’s efforts to combat Britain’s cost-of-living crisis. Bernanke, who served as Federal Reserve chair from 2006-2014, will examine how procedures and analysis affected the decisions of the bank’s Monetary Policy Committee, which has approved 13 consecutive interest rate increases as it battles stubbornly high inflation. Some business leaders and government officials have suggested the bank’s response to the crisis was hamstrung by overly pessimistic forecasts of a recession that never materialized and overly optimistic expectations for a rapid drop in inflation.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content