The wave of criticism of central bankers hasn’t let up in October with a Barron’s article arguing that central bankers are the truly scary clowns. Politicians have joined in the criticism with Theresa May and Donald Trump calling out the negative impacts of current monetary policy. What has changed is there is something of a fight back based on the concept of central bank independence. I’m a strong supporter of central bank independence, but a strong critic of central bank incompetence. Central bankers that ignore the obvious evidence of asset price bubbles and yield chasing, created by their ultra-low interest rates and money printing, should be sacked just like any other underperforming employee. The questions are who will replace them and what monetary policy should be targeting.