but do investors care about them anymore?

There was a time when these appointments would move markets and have longer-term consequences, but in a world of ultra-low interest rates

do these great and serious people make any difference?

Monetary policy best operates when central banks are doing different things, rather than all following the same herd instinct

When policies differ, and one central bank cuts rates while another raises them, then capital is on the move, but now, central banks look incapacitated

It is the unintended consequence of the G20 meeting of policy makers in Shanghai in February,

when they all accepted the need to avoid competitive currency devaluations in order to calm some volatile markets

Now, markets are so calm and volatility so low that central banks worry that a slight policy tweak will have too big a market impact

Who would've thought at the start of the year that the Fed, which was then plotting four rate hikes for 2016, would become so allergic to the idea of a stronger dollar?

It means some markets are looking bubbly

Is this year's rally in emerging markets FX really a sensible affirmative bet, or one based on a lack of meaningful alternatives?

And is the idea of fiscal stimulus as a solution to global low growth being floated around, simply because nothing else seems to work

At least there is one voice bucking the trend

The San Francisco Fed chief John Williams last week said that the Fed needed to think out of the box, and raise its inflation target in order to give it more room for maneuver

Now, central bank governors, whether they are incoming or incumbent, will welcome that

After all, the Fed is paralyzing them

What's more important, their own data or the data coming out of the US?

Now investors know the answer to that. They would like to care what the next governor of the Reserve Bank of India says, but they have little reason to look beyond the Fed

We used to talk about globalization and interdependence

Strange then, dependent on one set of policymakers, the world has now become