“The liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it comes stronger than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group.” – Franklin D Roosevelt [Source: Think Exist]
Mark Carney, governor of the Bank of England, tells bankers and business leaders that the result of the EU referendum is clear, but its implications for the UK economy are not. ‘The economic outlook has deteriorated and some monetary policy easing will likely be required over the summer,’ he adds, suggesting that a cut to the benchmark interest rate, currently at a record low of 0.5%, is on the cards.
June 27 -- Former Federal Reserve Chairman Alan Greenspan discusses fallout the U.K.'s Brexit referendum, U.S. economic growth, wage and economic stagnation, central banks, low productivity, and his call for inflation in the U.S. economy. He speaks with Bloomberg's Michael McKee and Tom Keene on "Bloomberg ‹GO›."