Wakanda is also known for the “heart-shaped herb”, a plant that gives the Black Panther his superpowers. And this, actually, brings me to the topic of my speech. In recent years, superpowers were often attributed to central banks as they struggled with the fallout from the financial crisis.
While other institutions were perceived as being incapable of action, independent central banks had to step in and save the day. A successful crisis response raised expectations, and with them came disappointment and discomfort.1 As a result, many people in advanced economies have come to question the role of an independent central bank in a modern economy.