Fed/ECB strategies renew monetary policy for the 2020s
Significance The changes aim to improve the efficiency of monetary policy in the environment of lower interest rates, inflation and growth, in which deflation, stagnation or recession are likelier risks than hyperinflation. Impacts The Fed will be more reactive to employment running below its equilibrium level than above it. The ECB will be more determined to fight deflation risks in the euro-area and less likely to raise rates when inflation runs above 2%. The more dovish stance of the ECB will be contested by its more hawkish members including the German Bundesbank.
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2017 ◽
Vol 44
(2)
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pp. 282-293
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2021 ◽
Vol ahead-of-print
(ahead-of-print)
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2018 ◽
Vol 08
(01)
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pp. 1840002
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2018 ◽
Vol 45
(6)
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pp. 1159-1174
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2018 ◽
Vol 11
(4)
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pp. 575-590
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Keyword(s):
2020 ◽
Vol ahead-of-print
(ahead-of-print)
◽
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