The monetary policy of the flashing light
Should the central bank signal its intentions when defining its monetary policy? This is the question posed by Kevin Warsh, the new Fed chairman. During the great financial crisis, the…
Philippe Waechter's blog
Monetary policy – Lessons from Powell’s era – What about the ECB ?
On the eve of the ECB meeting, the analysis by the two Romer validates the ECB’s option of raising interest rates. In other words, if the shock to the Eurozone…
The ECB and Inflation
The European Central Bank is meeting today. In her press conference, Christine Lagarde will clarify the ECB’s position on the crisis stemming from the conflict in Iran. She will also…
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Donald Trump has finally nominated Kevin Warsh to succeed Jerome Powell as head of the Fed next May. He must be confirmed by the Senate. Warsh has already worked at…
Powell at Jackson Hole… and then what?
Tonight in Jackson Hole, Jay Powell will deliver his final speech in this central bankers’ lair. It’s often an important venue for getting messages across. Draghi, Bernanke, Yellen, and even…
What about the lender of last resort?
The conflict between Israel and Iran is not having the expected effects. While the price of oil has risen, it hasn’t gone beyond its level at the beginning of the…
Can our financial system support the green transition when the going gets tough?
In a post on the ECB blog, its Vice-President Luis de Guindos presents the three scenarios used in the stress tests to measure the resilience of the financial system during…
A somewhat empty framework for the ECB’s monetary policy
During the Michel Camdessus Conference held at the IMF on September 20, Christine Lagarde returned to the mechanisms of transmission of monetary policy in a troubled period.The message is that…