Regular readers are very familiar with Mr. Haldane and his work as your humble blogger frequently cites his insightful analysis. So make no mistake, I think he would be an excellent choice. If he has applied for the job, he is probably the best choice from the existing applicant pool.
However, would he be the best choice to be governor of the Bank of England for the next 8 years is an entirely different question.
From my perspective, the issues facing the next governor are:
- Ending the bank solvency led financial crisis;
- Leading the efforts to establish the financial reforms that will, like the reforms adopted after the Great Depression, create a multi-generation period of financial stability;
- Taking the financial markets off of all the life support programs put in place since the beginning of the financial crisis; and
- Moving from quantitative easing and zero interest rates to monetary policy that typifies a growing economy (this includes shrinking the Bank of England's balance sheet).