Bank of England Economist Sparks Controversy with Poverty Comments
TL;DR
The Bank of England's chief economist, Huw Pill, has said that Britons need to accept that they are poorer due to Europe's energy shock, and that the "pass-the-parcel game" of passing on rising costs to employers and customers is generating persistent inflation. The comments have been met with indignation in Britain, which has been grappling with a cost-of-living crisis for the past year, with stubbornly high inflation rates and household energy bills more than double what they were two years ago.
Topics:businesseconomics#bank-of-england#cost-of-living-crisis#economics#energy-shock#inflation#wages
- Central Banker to Britons: You're Worse Off. Accept It. The New York Times
- Bank of England economist says people need to accept they are poorer BBC
- Bank of England's Huw Pill 'INSULTING people' with 'ludicrous' poverty comments GBNews
- UK Inflation: BOE's Chief Economist Fails Find the Right Words Bloomberg
- The Bank of England is wrong again: workers aren’t to blame for inflation The Guardian
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