BoE Chief Economist Pill regrets call to accept impoverishment
Bank of England Chief Economist Hugh Pill admitted that he regrets calling on his compatriots to come to terms with impoverishment. Sky News reports this.
“If I had the opportunity to use other words, I would choose something else to describe the problems we were dealing with,” Pill said.
The economist also noted that his words received a strong reaction, but it can not be called useful. In particular, he drew attention to the fact that the British did not understand the problem of inflation, as well as the reasons for higher interest rates.
Recall that in April, Hugh Pill, as part of a podcast for Columbia Law School, advised the British the fact that their economic situation has deteriorated. In addition, the economist urged compatriots to stop supporting real purchasing power by increasing prices or wages.