Archive for January 29th, 2014

Pakistan’s economics and political mess….

January 29, 2014

Couple of interesting speeches by State Bank of Pakistan Governor  Yaseen Anwar..

One on fiscal and monetary policy in Pakistan and the other on Banking sector.

In the first, he starts with fisc-monetary policies in the world and then comes to Pak:


Central bankers as Owls, Hawks and Doves…

January 29, 2014

Well jokes have started ever since RBI chiefs have mentioned that they are neither hawks, doves but owls..

In case people think it is original, well Dallas Fed Fisher said this way back in 2008 (c0vered on this blog here)

Those of you who follow my speeches—probably a very small number of you with way too much time on your hands—will recall that I like neither the term “hawk” nor “dove.” I like to think that all FOMC members are best metaphorically described in ornithological terms as “owls”—wise women and men seeking to achieve the right balance in carrying out our dual mandate. To be owlish, and to avoid the imbalance of emphasis that gave rise to needed harsh discipline imposed by the Volcker FOMC, one has to bear in mind that the seeds of inflation, once planted, can lie fallow for some time, then suddenly burst through the economic topsoil like kudzu, requiring a near-toxic dose of countermeasures to overcome.

I am not sure of anyone who referred to it earlier..In case people know, do let this blog know..

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