The Queen at LSE 6. A few months into the crisis, the Queen happened to be at the London School of Economics and asked a perfectly sensible question: “how come none of the economists saw the crisis coming”. The Queen’s question resonated with people around the world who felt that they had been let down by economics and economists.
It posed new challenges for policy makers, as we dealt with acute and persistent volatility in our financial markets. A deep economic contraction with a subsequent heterogeneous economic recovery, and currently with a high degree of uncertainty on inflation dynamics.