Uncertainty is lessening monetary policy effectiveness, Fed president says
Current economic uncertainty is lessening the effectiveness of monetary and fiscal policy, Federal Reserve Bank of Richmond president Tom Barkin said.
Uncertainty can “dampen the impact” policy-makers can expect their policy measures to achieve, Barking said during the November 5 speech.
“In the presence of high uncertainty – nearly all of which is generated by forces extraneous to what the [Federal Open Market Committee (FOMC)] does – we risk not getting the same ‘bang for the buck’,” he
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