Letter: Manifesto for recovery

Thursday 22 October 1992 23:02 BST

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Sir: I see. It's crucial we have an independent central bank. And it's also crucial that this independent central bank slashes interest rates immediately.

This is not logical. Either the bank is independent, in which case it sets interest rates. Or it isn't, and doesn't. As the Bundesbank is demonstrating so vividly, an independent central bank and sharp cuts in interest rates may well be mutually incompatible in the current circumstances.

So which is it to be? An independent central bank? Or sharply reduced interest rates? Choosing the former may well rule out the latter.

Yours faithfully,

JOHN MORRISON

London, NW6

22 October

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Letter: Manifesto for recovery

Join our commenting forum

Thank you for registering