Women of a certain age? They are a major force: Gregg Wallace’s mockery shows grave ignorance, says ALEX BRUMMER

Gregg Wallace’s mockery of middle-class and older women will not be forgotten, despite the MasterChef presenter’s efforts to back down.

Beyond the offense caused, it shows profound ignorance on the part of a festive TV presenter who drools over sweet desserts and over-seasoned lamb dishes, but doesn’t understand what happens outside the kitchen walls.

Among the women he so easily dismisses are some of the most powerful people in the world, who make an enormous contribution to well-being, prosperity and growth.

The rise and rise of women – yes, many middle class and of a certain age – in the command and control structure of the global economy is a tremendous phenomenon of the 21st century.

Institutions once dominated by gray-haired bureaucrats in dark suits and wire glasses are being reshaped by smart women.

But it must also be recognized that it is not entirely typical, as demonstrated by the small number of just nine female FTSE 100 bosses.

Since July 5, we’ve all become familiar with short-haired Rachel Reeves, who acquired her middle-class status through hard-core political shenanigans.

He may be too young to be part of Wallace’s concept of a “certain age.” But as Britain’s first female chancellor in 700 years, as she reminded the nation in her first budget, Reeves is part of an impressive cohort who are making and will continue to make an ever-increasing contribution to our wealth.

All of them will be able to source the best ingredients and offer gourmet restaurants run by MasterChef professionals.

Reeves is not alone among women in senior positions in the British economy. Clare Lombardelli is Deputy Governor of the Bank of England, Andrew Bailey.

Their job is to prepare and approve the monetary policy report used by rate setters to determine the cost of your mortgage.

Lombardelli came to the Bank from the Paris-based Organization for Economic Cooperation and Development, where as chief economist he had great influence on the economic and fiscal policies governing all Western nations.

Not far from these shores, in Frankfurt, sits the imperious and elegant president of the European Central Bank, Christine Lagarde.

The grizzled former French finance minister and former managing director of the International Monetary Fund is in charge of borrowing costs and financial stability for the 20 nations that make up the eurozone.

These include the EU’s three dominant economies: Germany, France and Italy. It determines interest rates for a group stretching from Finland on the Russian border to Spain on the Atlantic coast.

If you think this goes far beyond the cutting board and blender, consider the role of Bulgarian economist Kristalina Georgieva.

As managing director of the International Monetary Fund, she has a say in the economic, financial and (say it quietly) political affairs of 191 countries. These range from giants, such as the United States and China, to Liechtenstein, a new member.

The Fund is a think tank, a forecasting organization and a lender called to act when economies get into trouble. It has recently been helping to repair Sri Lanka’s indebted and destabilized economy with a £2.3bn bailout and is operating in most of Africa.

Georgieva affected our lives here in the UK two years ago when she used the IMF’s annual meetings to berate former Prime Minister Liz Truss, another woman of a certain age, for her unaudited tax-cut budget.

This was one of the factors that drove up UK mortgage rates and caused chaos in the financial markets.

Just down the road from the IMF, downtown Washington is the home of Janet Yellen, the US Treasury Secretary. The Brooklyn-born economist is in her final days in office following the election of Donald Trump.

Yellen, a hero to Reeves, is among the most respected economic analysts in the world. She previously served as chair of the US central bank, the Federal Reserve, before being relieved of her duties by the last Trump administration.

It can be credited with achieving the fastest growth among the G7 rich nations in the Biden years.

But Democrats, like most Western governments, were punished at the polls by near double-digit inflation following the pandemic and Russia’s war against Ukraine.

The changing of the guard in Washington with Donald Trump’s inauguration on January 20 will leave his new chief of staff, Susie Wiles, as guardian of the Oval Office.

Equally significantly, Trump’s proposal to drive a horse and buggy through globalization, imposing punitive tariffs on neighbors Canada, Mexico and China, will push the Geneva-based World Trade Organization to center stage. .

Its CEO is former Nigerian Finance Minister and formidable World Bank official, Ngozi Okonjo-Iweala.

He is tasked with monitoring global trade and ensuring that Trump’s mercantilism does not spiral out of control into a global trade war, with tit-for-tat restrictions, that could condemn the world economy to stagnation or even recession. in the style of the 1930s. .

There will be unreformed voices who consider the fact that women dominate economic policy, which is so important to all our standards of living, to be symbolic. That’s what we expect from Wallace and his ilk.

However, women tend to be less driven by ego and machismo than their male counterparts and more willing to listen, learn and negotiate.

Several of the women of a certain age who rise to the top of decision-making in the global economy come from humble beginnings and have risen to the heights by dint of intellect, ambition and judgement. We should wish them the best. Our standard of living depends on it.