A term that refers to any government that intervenes excessively in the daily lives of its citizens. The term is attributed to British Conservative politician, Iain Macleod, who used it in a derogatory sense to criticise government intervention in people’s lives. It is usually used to refer to governments that engage in heavy taxation and regulation of the economy. A nanny state’s supporters believe it can improve the lives of citizens through careful policies, while its critics believe that its policies are not aimed at enhancing the welfare of citizens but instead enriching the lives of the political class with an ulterior agenda.

The new U.S. Fed Chairman is unlikely to opt for policies that might upset the President’s plan