CLSA Says Fed Learned Nothing From 2008; Watch Out For Trump

The Fed and G7 central banking establishment has “learnt nothing from their empirical experience since 2008, which is simply extraordinary,” Christopher Wood at CLSA Research writes. The lessons that should have been learned during the financial crisis – when numerous warnings were given – is repeating itself. The US Fed is in a politically vulnerable position, he writes, as the Bank of Japan is already taking marching orders from Japanese Prime Minister Shinzo Abe. Watch out because missteps at this point, particularly if Donald Trump is elected, could be costly. Why were warnings missed in 2008? Was the Fed focus…