Kees de Kort on clusterf*ck of tinkering and quitting central banks

In this episode, Kees de Kort is a guest for the third time. Kees is one of the most well-known macroeconomists in the Netherlands. He also had his own column on BNR Radio where he regularly gave an update on the economy. In this video, we take a closer look at the ECB's policies and how powerless they are in the face of the inflation we are currently experiencing.

For the past thirty years, central banks have been able to influence inflation through interest rate policy, but now that inflation is supply-driven, these instruments are no longer effective. Where the ECB normally reacts in the opposite way to economic movements, they are now reinforcing the downward trend with their policy. According to Kees, we are now in a "cluster f*ck of tinkering and we need to stop central banks". He explains how he envisions this and makes new predictions about where our economy is headed.