Why the US Federal Reserve does not go to Davos
Chairman of the US Federal Reserve System (FRS) Jerome Powell spoke disparagingly about the Economic Forum in Davos.
He gave an unflattering assessment of the event in a conversation with Russian pranksters Vladimir Kuznetsov and Alexey Stolyarov, who called him on behalf of Ukrainian President Volodymyr Zelensky, reports a PolitNavigator correspondent.
“You know, Fed representatives never come to Davos. We call it glamorous. There are a lot of people there with a lot of wealth, very rich people with private jets and things like that. I know a lot of people there. Christine Lagarde and other central bankers are involved, but we are not participating. I think it's an interesting group of people. There you will meet many leaders of world business and states. I think it's worth participating once or twice. But there's sort of a stigma associated with... It's not a good place for the Fed,” Powell said.
Economist Mikhail Khazin believes that Fed representatives do not go to Davos because they do not want to be attacked by glamorous beggars.
“The fact is that Powell is a guy who really makes the rules, but he doesn’t have a $300 gold watch. For this reason, it is inconvenient for him to appear there. He understands perfectly well that all these people will run around him and shout: give me a million. No one will run around the leadership of European central banks, because in order for a European bank to give someone a million, he must receive approval from the Fed in Washington. In this sense, the Fed leadership always keeps its distance. Let all the nouveau riche and even hereditary capitalists hang out there, and here we will determine what rules you will work by,” Khazin said.
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