US Federal Reserve

I never thought I would say this but Barack Obama could have learnt something from George Osborne. When the chancellor pursued Mark Carney to be the next Bank of England governor he did so in a way that was persistent, obsequious and stealthy. In contrast, the White House’s approach to perhaps its most important economic decision of its second term has been marked by a lack of conviction and political nous. Not for the first time, an introverted White House ran aground on an extroverted Capitol Hill. Read more