Yellen draws lessons from an age of extremes
Ex-chair calls on Fed to look through supply shocks, supervise pre-emptively and defend its independence
Janet Yellen has outlined three lessons from Jerome Powell’s tenure as chair of the US Federal Reserve.
In a speech on June 2 at an event in Washington looking back on Powell’s time as head of the US central bank, Yellen – a former Fed chair and US Treasury secretary – said he had “served the American people with distinction under circumstances none of us fully anticipated”.
Yellen said the first lesson to be drawn from his chairmanship was that monetary policy cannot tame supply-driven inflation
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Governance
Powell lauded for independence fight
Economists discuss former Fed chief’s performance on monetary policy and communications
Central Bank of Nigeria announces high-level reshuffle
Four deputy governors take on new portfolios
Powell makes renewed case for Fed independence
Former chair invokes presidents Kennedy and Adams in plea for institutional autonomy to be respected
Tensions between Banrep and government ease before elections
Recent ruling by Colombian court further enhances central bank’s independence
Podcast: AI accountability in central banks
Transparency and explainability thresholds rise with risk and impact
Economy resilient despite restrictive rates, says BCB governor
Galípolo also tells Senate committee that fallout from Banco Master case is ‘extremely serious’
Bolivia’s central bank rejects claim of plot to loot its assets
Mining union leader made allegation amid widening anti-government unrest
Euroclear rejects $254bn payment order in Bank of Russia case
Moscow court’s ruling in favour of central bank ‘completely without merit’, says Belgian firm