1) I can't believe this is real
2) I can't believe a central banker would be so stupid to say this out loud
Faisal Islam interviewed Bank of England Governor Andrew Bailey today and the topic of wages came up.
Islam : Are you trying to get into people’s heads & ask them not to ask for too high a pay rise?
Bailey: Broadly yes
Islam : Really?
Bailey: we do need to see a moderation of wage rises… that's painful
I guess capitalism only works when Bailey and his friends are minting money on ultra-low rates. Bailey earns about £600,000 per year.
