Merryn Somerset-Webb
speaker
103 appearances
2 recordings
1 series
first heard Dec 2013
last heard Jan 2014
Merryn Somerset-Webb’s voice in public audio — every appearance, attributed to the second.
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Appearances
You've got to be a very, very brave central banker to be the one who stands up and says, I don't care if the stock market crashes.
Thank you.
Well, obviously, they're very different, QE and raising interest rates.
When I talk about the end of QE, I'm talking about the end of printing more.
I find it almost impossible to imagine the process of pulling all the money out of the economy.
That seems very unlikely.
My number of the year this year is $142 million.
That's the price that a set of three studies by Francis Bacon sold for at auction at the beginning of November.
That is the highest price ever for a piece of artwork at auction in nominal terms.
And to me, this shows us the way that quantitative easing across the world has leached into real asset prices.
We knew it would happen.
It was forecast by the central banks.
But I think it's happened to a slightly more extreme level than any of us really expected.
Well, there's an awful lot of arguments about how quantitative easing money gets into the asset markets.
But the best way to look at it, I think, is as though it's a hot potato.
So the central bank buys an asset from somebody, buys a bond of some kind, whatever.
hands the money to the guy who had the bond.
The guy who had the bond now has the money.
What's he going to do with the money?
He's going to buy something else.
Showing 41–60 of 103 · page 3 of 6
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