This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on Please explain how the BOE makes losses on government bonds? Has Trump finally managed to lower US ‘Trade deficit’ by linking tariffs to a 20% fall in the USD? Do central banks just conveniently ignore forward inflation indicators? At the moment it just feels that there is little point to them being "independent.