Central Banks Have Created a Monster: Saint-Georges
A gauge of the dollar extended its retreat from a seven-month high on speculation U.S. monetary policy will remain accommodative. The U.S. currency declined against all except one of its Group-of-10 peers after reports Monday showed a measure of manufacturing in New York unexpectedly shrank, while nationwide factory output expanded. Federal Reserve Chair Janet Yellen last week laid out arguments for keeping monetary policy easy without taking an interest-rate hike off the table this year. Formerly of State Street Global Advisors John Nugee and Carmignac Gestion Managing Director Didier Saint-Georges discuss the challenges facing the Fed and other central banks with Francine Lacqua on "Bloomberg Surveillance."
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