STORY AT-A-GLANCE Richard Werner, Ph.D., created a monetary policy known as quantitative easing, which is intended to help banks get out of financial crises more rapidly and avoid long-term recession In 2020, this policy was misused to intentionally create inflation Werner’s London-based community interest company, Local First, provides communities with the know-how to set up local community banks Creating lots of local community banks will decentralize finance, make communities more resilient and help us avoid
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