Opinion
Powell may be subtly rewriting central bank history
Central bankers has their 'end of history' moment in the mid-1990s with inflation targeting. Now the paradigm may be moving again.
Howard DaviesChairman of NatWest GroupWhen US Federal Reserve chairman Jay Powell delivered his major speech at the Jackson Hole conference of central bankers last month, setting out the results of a year-long review of the Fed’s monetary policy framework, he had stars in his eyes. Not the twinkly kind, but rather the notation that encapsulates the Fed’s views of interest rates, and unemployment.
Jerome Powell speaks at the virtual version of the Jackson Hole symposium. . Bloomberg
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