Monetarists in heels
The pathetic representation of women central bankers
By C.W., P.A.W., L.P. and P.K.
The pathetic representation of women central bankers
THE business of taking away punch bowls is mostly a man’s game. As central bankers descend on Jackson Hole, Wyoming this weekend for their annual powwow, and all eyes are on whether Larry Summers or Janet Yellen leads America’s Federal Reserve, one can’t help but notice the paucity of women in the ranks. Since women started playing a role on monetary policy committees (MPCs) in the 1970s, their numbers have remained meagre. The European Central Bank (ECB) currently has no women on its MPC, called the Governing Council. And no woman has ever voted on Swiss monetary policy—or Italian or Dutch before those countries joined the ECB. As for the Fed, there are just six women compared with 11 men. Some countries have been more progressive. From 2002 to 2011, nearly half the membership of Norway’s MPC was female. In the past year both Russia and South Korea have appointed their first female governor and deputy governor, respectively. Yet overall, it suggests that the folks who love to give forward guidance to others are themselves living in the past.
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