“However, irresponsible central bank policies ultimately lead to high inflation, exchange rate volatility, financial sector problems, low economic growth, and high unemployment, as we have seen during past crises in Ukraine

“However, irresponsible central bank policies ultimately lead to high inflation, exchange rate volatility, financial sector problems, low economic growth, and high unemployment, as we have seen during past crises in Ukraine,” he continued. “Recognizing the temptation of excessive short-term stimulus, most developing and developed countries have an independent central bank with clear powers to do what is right for the economy in the long run.”