Charles Goodhart
Experts split on impact of Fed’s new Basel III proposal
Economists divided over financial stability ramifications of vice-chair’s new capital ratios plan
Why fear, paranoia and distrust swirl around CBDCs
Populists and conspiracy theorists are exacerbating public concern about retail CBDCs. What can central banks do about it?
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges. Central Banking looks back at the stories that made the biggest impact this year
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Central banks ‘behind the curve’ on inflation, warns Goodhart
Charles Goodhart says stagflation is the most likely outcome in the coming years
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Book notes: Monetary policy in times of crisis, by Massimo Rostagno et al
A mass of intellectual effort gives rare insights into the ECB’s inner working, but fails to fully address questions about who really controls inflation
Goodhart, Gopinath and Lippi disagree on inflation
Central banks lack tools to deal with inflation, Goodhart warns, but IMF chief economist disagrees
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The Central Banking Awards 2021 virtual ceremony
View the trophy presentations, acceptance comments and future predictions from the winners of the eighth annual Central Banking Awards
Book notes: Quantitative easing, by Jonathan Ashworth
Well-documented and fairly comprehensive book for anyone, including central bankers, wanting an overview of how monetary policy has evolved in recent decades
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Robert Pringle critiques the key findings raised in Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
Central Banking Awards 2021: winners in full
Winners in 2021 include the Federal Reserve, Alejandro Díaz de León and Charles Goodhart
Central Banking Awards 2021: second group of winners announced
Lifetime achievement award unveiled, plus awards for transparency, advisory, global markets and more
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy