Central banks cry for budget help

Attack on Fed: Trump speaking to reporters before departing the White House recently. Calling for ‘substantial’ Fed rate cuts to allow the dollar to fall in value against foreign currencies, he twitted on Thursday: ‘As your president, one would think that I would be thrilled with our very strong dollar. I am not!’ — AP

WASHINGTON: As they look to ease monetary policy, central bankers are also singing from the same songsheet when it comes to government support for their economies. They want more of it.

With the global growth outlook darkened by trade wars and borrowing costs already low, central banks say they can’t dispel the clouds on their own. From Federal Reserve chairman Jerome Powell to European Central Bank president Mario Draghi, the demands are mounting for governments to loosen their budgets if the slowdown takes hold.