BoE: Accomplice to fiscal incontinence? Moi?

The Bank of England is still in «wait and see» mode. On Thursday it did nothing, and similar inaction is expected in May. But risks remain from the past policy of buying government debt with printed money. The UK central bank’s Monetary Policy Committee should reflect on comments by the respected Richard Fisher, president of the Dallas Federal Reserve Bank. Fisher said last week that the Fed would not be likely to respond to higher yields on U.S. Treasuries by buying large amounts of government ...