Wilfred Hahn

Investors have been repeatedly admonished this past year or two not to underestimate the power of central banks in driving up financial asset values.

Despite powerful new initiatives by policymakers and central banks, the world’s economy remains driven by problems and a continuing slow expansion.

While central banks can’t produce real wealth, they can surely impact money flows and investor psychology for much longer than we are inclined to believe.

Investors have been repeatedly admonished this past year or two not to underestimate the power of central banks in driving up financial asset values.

Despite powerful new initiatives by policymakers and central banks, the world’s economy remains driven by problems and a continuing slow expansion.

While central banks can’t produce real wealth, they can surely impact money flows and investor psychology for much longer than we are inclined to believe.