By Meghnad Desai in London
Theresa May, like Jeremy Corbyn, and indeed any current party leader, lacks a Commons majority to break the Brexit impasse. One escape route lies in the ‘March revolution’ engineered by MPs Oliver Letwin and Yvette Cooper, and John Bercow, the House of Commons speaker. This empowered backbenchers to take over the procedure for passing bills which can force the executive to implement parliamentary decisions. The policy bore fruit when both houses passed a bill to force the prime minister to seek an extension to the 29 March deadline.
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John Plender, non-executive director at OMFIF and a columnist at the Financial Times, joins Rein de Loor, programmes manager at OMFIF.
They discuss the Federal Reserve’s outlook for monetary policy and the US economy, reserves management and global affairs affecting the financial system.
Listen to the recording, or search OMFIF on your smartphone’s podcast app.