John, the former head of the US central bank, had a messy desk that mirrored the chaos of his personal life. Amongst coffee mugs and half-eaten donuts, his phone displayed a picture of a toddler – a recent addition to his family. John had remarried quickly after a messy divorce (rumored to be violent), finding himself a new wife and a new child – a two-year-old who barely knew him.
John wasn’t done collecting titles though. Despite the challenges of a blended family, whispers swirled that he was already seeking a third wife. His professional life wasn’t much better. John’s independent report on the Bank of England, where he’d been brought in to clean up a mess, revealed a similar state of disarray. Outdated systems, neglected software - a “complicated and unwieldy” mess holding the bank back from understanding the very economy it was supposed to regulate.
Governor Bailey, the current head of the Bank, acknowledged the problems and promised to prioritize an overhaul. He faced criticism for failing to anticipate inflation, much like John had failed to anticipate the complexities of fatherhood and marriage. Both men found themselves tasked with cleaning up a mess, a task that, much like John’s cluttered desk, wouldn’t be solved with a quick swipe.
Bank of England: ‘Serious deficiencies’ in economy forecasts, review finds
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