Sir Paul Tucker on what central banks should do now

In this episode of BM Talks we are joined by Sir Paul Tucker who reveals: 

Why central banks are struggling to communicate their actionsWhat QE is doing needs to be examinedHow QE works must be better explainedDebt needs to be termed outHow Shadow Banks remain a significant risk to the marketHow fiscal policy can coordinate but not dominate monetary policy

"We should be relying on the central banks to do what they definitely can do and using the fiscal authority to do something that they can more certainly do than the central bank, which is to get spending going"

"Some MPC members now talk as if QE is mainly a signalling device. If they do, then their votes for the scale of QE are completely inexplicable"

"The extraordinary "Non-QE" QE in March.... It’s pretty hard to make sense of the March and April interventions... without thinking that this is price support"