Commentary
Central banks have become the dominating force in financial markets.
Central Banks Do Not Prevent Financial Crises or Control Inflation
Central banks have become the dominating force in financial markets.
An eagle statue sits on the Marriner S. Eccles building of the Federal Reserve Board in Washington, D.C., on Aug. 6, 2025. Alex Wong/Getty Images
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”
