Shrinks, but it doesnt set the u. K. Up for a good spot Going Forward. We are seeing the relationship between fiscal and Monetary Policy really evolve the u. K. We will break that down over the next few hours. You are seeing bond markets bid across the board, as we are koff develop. We want to kick it off with Michael Mckee. Theld central bank mike,entral banks if i say mmt, am i wrong . Anyway. Yeah, [laughter] its confusing, though, what is going on with the economic philosophy called mmt. Yes, it is unlimited cash in unlimited amounts for unlimited periods of time until we get through this. Youre still going to work your tail off today before we get to 4 00 p. M. Lets start in london come over the bank of england is going to finance Government Spending for the time being by lending money directly to the treasury. It is called the ways and means facility, a shortterm credit the last used during great financial crisis. Government and the bank say any borrowing will be repaid by the en
That it will improve gdp. Maybe it will. But if it does not increase middleclass incomes, which is the greatest problem we face in the country, i cannot before such an agreement. Brendan the white house said it will open the economy to more products. The imf is playing hardball with greece. Christine lagarde said she will not let greece skip a payment. Greece told creditors earlier this month that it might have to skip a payment. The issue comes down to other greece will agree to more economic reforms. The greek finance minister said that the answer is yes. What were asking for is absolutely sensible. We are a new government. We need to come to terms with our partners on four or five large returns reforms. Brendan chances appear to be shrinking that the fed will raise Interest Rates in june. In february, the atlanta fed president said he wanted to keep the possibility open. After his speech yesterday, he said the june was not off the table. Dont we all just sit around and listen to all