Haddad: Galipolo is technically prepared to bring inflation to the goal with intelligence
Finance Minister Fernando Haddad said on Thursday that Central Bank President Gabriel Galipolo is a serious and technically prepared person for the function, which is to bring inflation to the intelligence goal. The statement was made in an interview with GloboNews.
Haddad was asked about a statement made by himself in the morning, saying that he did not expect Galipolo to give a “wooden horse” in the management of the monetary authority.
“The galipole is a very serious person. In my opinion, he is a person not only technically prepared, but I believe he is a psychologically prepared person for the position, because it is not a simple position. It is a position that receives a lot of pressure from all social forces in the country,” said the Minister of Finance.
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Haddad stated that, based on Galipole’s previous interviews and statements, it was known that he fulfills the Guidances and that the BC had hired, in 2024, three Altas of Selic, ending this cycle at the March meeting, which was fulfilled by the new board.
“Galipole has a commitment to the coherence of BC measures to fulfill his mandate, namely, bringing inflation to the goal. This is a commitment of the Galipole, with intelligence. There are several ways to do this, and has the smartest way to do this, because if it was something that was resolved by an algorithm, you didn’t even need the director. declared the minister.
Haddad said he entrusts that the Central Bank will look at the data and lead inflation to the intelligence goal. “The BC has to look at expectation, yes, the BC model considers expectations for decision making. But it also has to look at the fundamentals of the economy, that’s a combination. That’s why it has an exact science art, it is not an exact science. What I trust will happen is that the central bank will look at all these variables, you know that you have a term to do, you have to bring the inflation to the goal and do it Intelligent possible, ”he said.
The minister criticized some projections of economists, such as when they estimated that the dollar would surpass the $ 7 barrier after the exchange rate stress at the end of 2024. “It’s curious, and life is like this: no one charges these economists about the forecast barbering. But if the government had said such a thing, it was going to be charged here,” he said.
During the interview, he repeatedly repeated how the 2022 transition was traumatic, and also pondered the government’s challenge to live two years with a central bank president appointed in previous government.
