Axel A. Weber
Last quote by Axel A. Weber
Axel A. Weber quotes
Investors have been driven into investments where they have very little capability for dealing with what is on their plate and I think that is a sure reminder of where we were in a different asset class in 2007.
So I think the central bankers need to be very careful that they do not continue to produce disturbances in the markets, which they acknowledge - it's a known side effect - but the perception that the underlying impact of monetary policy outweighs the potential side effect in my view is starting to be wrong.
They (central banks) have taken on massive interventions in the market, you could almost say that central banks are now the central counterparties in many markets. They are the ultimate buyer.
Central banks have actually facilitated or at least encouraged other policymakers like finance ministers or those that do structural reforms to somewhat take a relaxed attitude towards acting fast.