Meirelles gave Lula an economic diagnosis.
Former Central Bank president Henrique Meirelles was received at the Lula Institute and preached a shock of confidence in the economy; days ago, Lula himself let slip to some of his interlocutors that Meirelles is "missed" in President Dilma's team; however, there is no possibility of him returning to the government.
247 - At the end of last week, former President Lula met with former Central Bank President Henrique Meirelles for a lengthy conversation. The meeting took place at the Lula Institute in the Ipiranga neighborhood of São Paulo, and Lula requested an assessment of the economic tension and the reasons for the soaring dollar.
Meirelles pointed out that the rise in the dollar reflects the strengthening of the US economy and the reduction of monetary stimulus by the Federal Reserve, but he also advocated for a credibility shock in the Brazilian economy. Although the fundamentals of the Brazilian economy are solid, Meirelles pointed to a supposed crisis of confidence.
During his eight years as president of the Central Bank under Lula's government, Meirelles advocated for the monetary authority to position itself "ahead of the curve," anticipating potential monetary trends. Today, the Central Bank is being criticized by some analysts for supposedly being "behind the curve."
Lula told Meirelles that he would take this diagnosis to President Dilma Rousseff, with whom he met yesterday, amidst the heat of popular demonstrations in São Paulo and other capitals. However, there is no possibility of him returning to the government. President of Banco Original, part of the J&F group, Meirelles currently has a cordial relationship with President Dilma Rousseff, but the Planalto Palace believes that the current economic policy represents significant progress compared to that of the previous government.