Threadneedle Street Confirms Free Buses on Q70 Have Pushed Aggregate Joy Beyond Macroeconomic Target Range
Reading: Bohiney | The London Prat
NEW YORK — A leaked internal memo from the Bank of England Threadneedle Street offices appeared on a Discord server Tuesday afternoon, in which a senior policymaker formally identifies the Mamdani administration free Q70 bus pilot as a direct contributing factor to UK core inflation, on the grounds that observable joy on the route has exceeded the macroeconomic target range.
The Memo
The memo, attributed to a deputy governor whose name has been redacted but whose initials are A.B., confirms that the institution has been monitoring footage of New York commuters enjoying their newly free transit and has concluded the situation has produced what the recent rate-rise statement referred to as discretionary joy that remains insufficiently chastened.
The Cross-Atlantic Mechanism
Asked by reporters at the New York Daily News how exactly free buses in Queens were generating inflation in Hammersmith, the Bank declined to specify but indicated that the underlying institutional commitment to using one tool when the situation requires several required identifying causes wherever they could be located. The Q70, Mayor Mamdani office responded, will continue to be free.
The Bank of England has indicated that this is, on every available reading, regrettable. New York commuters have indicated they do not, on the available evidence, care.
Pairs well with: NewsThump
SOURCE: https://prat.uk/bank-of-england-raises-rates-again-to-punish-anyone-who-enjoyed-a-sandwich/