Forward guidance
Bernanke says Fed acted too slowly on inflation
Former Fed chair argues forward guidance hampered Fed’s response to rising prices
Christopher Waller denies Fed is ‘behind the curve’
Governor argues Fed not given due credit for forward guidance and low unemployment
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Lifetime achievement: Stanley Fischer
Fischer has had a profound impact on monetary economics and central banking during his prolific career
BoE’s Broadbent highlights perils of forward guidance
Deputy governor warns conditional guidance is often viewed as a promise to act in a certain way
Riksbank minutes confirm board division on normalisation
Three out of six board members voted to accelerate end of net asset purchases
Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs
ECB maintains stance but Lagarde hints at hawkish policy turn
Lagarde's press conference remarks seem to differ from policy statement, analysts say
Wunsch sceptical on forward guidance
Belgian governor says tool may be effective in a stable environment of below-target inflation
Pierre Wunsch on inflation, forward guidance and policy tightening
Belgium’s governor speaks about models, reversing unconventional policies and other challenges
Uruguayan central bank speeds up monetary tightening
Central bank makes fourth consecutive hike and says it expects further rises at next two meetings
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings. Where should public scrutiny stop?
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
Summers fears for Fed’s ability to remove ‘punchbowl’
Central banks may not be able to counter inflation threat, says former US Treasury secretary
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
Ex-US Treasury head speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord and ‘unknown unknowns’
Brainard cites Delta in dovish speech
Fed governor warns “employment is still a bit short of the mark” for taper
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
Is the ECB’s strategy review enough?
Reformed framework may allow greater stimulus to tackle weak inflation expectations, but Governing Council is already divided
New forward guidance is “elemental” for ECB strategy, Lane says
Chief economist implicitly disagrees with Belgian governor’s criticism of new wording
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
Podcast: Why forward guidance needs guidance
Richard Barwell of BNP Paribas Asset Management discusses the limitations of forward guidance
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively