Andrew Bailey argues that modern central bank independence is well-defined for monetary policy but incomplete, and highlights the challenges for a central bank’s financial stability mandate
Central Bank Independence – in need of further thinking Read More »
The global economy has shown resilience despite heightened uncertainty, supply side shocks, and geopolitical risks, but downside risks remain significant. Andrew Bailey says that sustaining growth and financial stability will require innovation, openness, international cooperation, and strong global institutions
The current state of the world economy Read More »
AI is a transformational technology, perhaps in ways as dramatic as past technological achievements. Philip Jefferson considers how AI will influence the Fed’s dual mandate of promoting maximum employment and stable prices
Artificial Intelligence and the economy Read More »
The US economy has shown resilience in a context of sweeping changes in economic policy. Jerome Powell says inflation and the hiring slowdown are creating challenging conditions and that balance of risks is changing
Monetary policy and the Fed’s framework review Read More »
Climate change has accelerated. James Talbot discusses the channels through which climate shocks affect the economy, the trade-offs they can present for policymakers and why central banks need to better understand these risks
Patrick Minford discusses the deep hole that UK governments have dug for the British economy, and considers what can be done to return the United Kingdom to growth
How can the United Kingdom find an exit? Read More »
Donald Trump has promised a raft of new tariffs, prompting concerns about a concomitant increase in inflation. Diego Comin and Robert Johnson argue that tariffs do not necessarily raise inflation, which is a macroeconomic phenomenon
Tariffs are coming: how trade dynamics will shape aggregate demand and inflation Read More »
Low growth and increased uncertainty pose new challenges for monetary policy. Luis de Guindos argues that preserving the strength and resilience of euro area banks is crucial in this environment
The economic outlook and monetary policy in the euro area Read More »
Monetary policy is being eased as inflation falls. Christopher Waller considers the geopolitical risks that will remain a challenge for central bankers in 2025
The leading challenges facing central bankers Read More »
Three years ago the ECB redefined the inflation target. Three crises later Olli Rehn takes stock of how well the revised strategy functioned in a high-inflation environment
Reviewing the ECB’s monetary policy strategy in the age of polycrisis Read More »
