Political and public support ‘critical’ for macro-prudential policy, says Kohn
Effective communication can help ensure public support macro-prudential policy, says former Fed vice-chair
A lack of public support for macro-prudential policy could encourage "political interference", Donald Kohn, an external member of the Bank of England's Financial Policy Committee, has warned.
Speaking at the first annual macro-prudential conference held by the European Central Bank, Kohn acknowledged it was both "difficult" but "necessary" to publically communicate decisions regarding macro-prudential policy.
"We reach out to the press, to the financial sector, to academics, and most importantly
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