World Bank President David Malpass responds to Fed Chair Jerome Powell's concern over combatting inflation and the options world governments have to increase production.
"You can't have governments allocating capital," he said. "They're not very good at that."
"And at some point, you have to allow businesses to do it so that they can really produce for everybody around the world." Jerome Powell, chairman of the US Federal Reserve, from right, Lael Brainard, vice chair of the board of governors for the Federal Reserve System, and John Williams, president and chief executive officer of the Federal Reserve Bank of New York, durinfor developing countries but warned they should be "targeted" at low-income communities, especially in more advanced economies.
"The central banks have more tools than just the rate hikes… capitalizing things that are already over-overcapitalized, that is the core of the problem," he said.
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