Bernanke offers ideas for Fed’s policy framework review
Unconventional policies are “preferable” to raising inflation target and can still be enhanced, Bernanke argues
Using unconventional tools to increase policy space should be prioritised over raising the inflation target, former Federal Reserve chair Ben Bernanke says in recent research.
His proposals – presented at the annual conference of the American Economic Association – come as the Fed draws close to finalising its formal monetary policy framework review, with decisions due in mid-2020.
Bernanke argues that tweaks to the Fed’s inflation targeting framework and the addition of yield curve control
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: http://subscriptions.centralbanking.com/subscribe
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 Operating framework
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
ECB president says bank can return to adjustable policy horizon
Households do not perceive how their incomes have risen, which harms growth, says Lagarde
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
Exact inflation at 2% not ‘realistic, nor necessary’ – BdF governor
Villeroy de Galhau says central banks should advocate for structural policies
Thai government and BoT agree to keep inflation target intact
Central bank and government reach price goal consensus despite a year of tensions
PBoC launches new reverse repo operations
Injections via new liquidity tool could help offset maturing central bank loans to banks in fourth quarter
Interpreting the PBoC’s slew of policy reforms
An insight into new stimulus measures, bond market tactics, deflationary pressures and framework changes
Long-term repo set for bigger role in BoE operations
Executive director Victoria Saporta outlines “major change in operating practice”