This is good stuff.

The Buttonwood Gathering 2013, New York City

At a moment when the global economy is relying on active central banking, the heads of the major banks are about to change. What can we anticipate from this shift? Will new bank chiefs continue using this larger set of tools, pushing the bounds of their traditional mandate to secure low inflation? If so, are economies at risk of a democracy deficit, as the banks are pushed to make decisions normally reserved for politicians. Are central banks too powerful?

Vincent Reinhart, Chief US economist, Morgan Stanley
Mohamed El-Erian, Chief executive and co-chief investment officer, PIMCO

Moderator: Greg Ip, US economics editor, The Economist

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