Book notes: The art of monetary policy: lessons from Sun Tzu for central banks, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
Kristin Forbes, The art of monetary policy: lessons from Sun Tzu for central banks, The MIT Press, 2026, 122 pages
The art of monetary policy arrives at a particularly important moment for central banks. For much of the post-global financial crisis period, monetary policy in advanced economies was conducted in an environment of weak demand, persistently low inflation and very low interest rates. Policy-makers are now confronting a world shaped increasingly by supply shocks, geopolitical
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