Business leaders worried about central banks
Davos, Switzerland (CNN Business)Business leaders in Davos aren’t thrilled about the global economic slowdown. But they’re even more worried about how central banks will respond.
“What scares me the most longer term is that we have limitations to monetary policy, which is our most valuable tool,” Ray Dalio, the billionaire founder of hedge fund Bridgewater Associates, said Tuesday at the World Economic Forum.
Central banks took dramatic and unusual steps to prevent economic collapse during the 2008 financial crisis. One decade later, most of the world’s big central banks are only just starting to reverse those moves, limiting their ability to respond to a new downturn.
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