Heading for the exit

While central banks and governments have started to think about how they might navigate a return to normality, there is little evidence that an exit is imminent

Few would disagree that unprecedented levels of government stimulus, both fiscal and monetary, have pulled economies around the world back from the brink of deep recession, even depression. There is rather less consensus about what the authorities should do next and, while central banks and governments have started to think about how they might navigate a return to normality, there is little evidence an exit is imminent. In the UK, the Chancellor of the Exchequer, Alistair Darling, frankly admitted in a speech to a City audience recently “it is better to take it off rather too late than ...