When the Federal Reserve holds its Jackson Hole meeting later this month, economists will need to discuss one big experiment: can Fed officials prepare markets for a “taper” of loose monetary policy, without sparking a shock?
This matters deeply in the short term. But there is a second, longer-term debate which investors should also watch: how soon can the Fed create an effective central bank digital currency (CBDC)?
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Financial Times
Gillian Tett is chair of the editorial board and editor-at-large, US of the Financial Times. She writes weekly columns, covering a range of economic, financial, political and social issues.
