Changing of Lagarde: Why personalities matter for central banks
Episode 65, Aug 21, 2019, 04:00 AM
Christine Lagarde has a CV that makes many of us jealous: partner at the prestigious law firm Baker McKenzie by age 31, finance minister for France during the financial crisis, Chairman of the G20 in 2011 before becoming Managing Director of the International Monetary Fund, and most recently, nominated to the presidency of the European Central Bank.
In this episode, we’re discussing how investors can look at changes of central bank leadership and why they matter for dealing with both the ‘five minutes to midnight’ problems and the much less pressing but no less important structural issues facing developed economies. Where many have praised Lagarde’s (small-p) political skills, how can we contrast this to market fears about Jerome Powell over at the Federal Reserve? And here at home, what can we expect from the as-yet unknown replacement for Mark Carney?
Read Hetal’s post on Lagarde’s appointment on our Future World Blog: https://futureworldblog.lgim.com/categories/insights/ecb-the-changing-of-lagarde/?cid=lgimtalks
· Hetal Mehta, Senior European Economist
· Chris Jeffery, Strategist
· Mark Chappel, Senior Content Manager
We want to hear from you! Email us at mark.chappel@lgim.com with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered.
This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.