Once upon a time, Mark Carney was able to central bank in peace. For one, he started his career in central banking back when Alan Greenspan was the only central banker anyone paid attention to. Secondly, he was central banking in Canada, where even helping save that country’s economy from the worst ravages of the financial crisis wasn’t enough to make him a household name.
But no good deed goes unpunished, and for his success Carney was promoted up the imperial ladder to lead the Bank of England, where he was rewarded with a government addicted to austerity and a popular vote to torpedo the country’s economy. Luckily, things look likely to quiet down for Carney, and not just because he plans to step down next year. Nope, after nearly a decade of passing the buck to central banks to keep the whole global economy afloat, world leaders are considering doing some leading again. For his part, Carney can’t wait.
"In many respects, we're coming to the last seconds of central bankers' 15 minutes of fame, to use the Warhol line, which is a good thing," Carney said.
"It's a more balanced policy mix. Also structural policy is becoming more important, trade policy clearly important here and elsewhere."