Fed's Ferguson on monetary credibility & inflation

In the speech 'Monetary credibility, inflation, and economic growth' given on 3 November Roger Ferguson of the Federal Reserve said that central bankers must use "all our tools" to stop inflationary expectations from taking hold in the economy.

"Given the persistence of high energy prices that the global economy has confronted of late, policymakers cannot be complacent," Ferguson told the Cato Institute.

"Central bankers must reinforce their credibility and validate the confidence of market

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