Bank’s chief economist warns against ‘Chicken Licken’ pessimism in UK

Andy Haldane says excess caution threatens economy’s recovery from Covid crisis

Britain’s rapid recovery from its Covid-19 slump is being put at risk by undue pessimism and a “Chicken Licken” fear that the sky is about to fall in, the chief economist of the Bank of England has said.

Andy Haldane, one of the nine members of Threadneedle Street’s monetary policy committee, used the example of the cartoon character to warn of a self-fulfilling prophecy in which excessive gloom led to weaker growth.

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