"...it will be appropriate to hold in place the current restrictive stance of policy for longer...." - Vice Chair Philip N. Jefferson

Posted: Apr 16, 2024

- Speech given by Vice Chair Philip N. Jefferson at the International Research Forum on Monetary Policy - Discussion of the evolution of monetary policymaking in the presence of economic uncertainty - Examples of historical shifts in economic thinking from the 1960s to the 2000s - Importance of understanding uncertainty and making timely policy decisions - Lessons learned from past economic crises like the Global Financial Crisis in 2008 - Mention of current economic climate with a focus on inflation rates and GDP growth - Emphasis on the importance of humility and adaptability in uncertain times - Need for understanding the role of monetary policy in limiting negative impacts of uncertainty on various aspects of the economy - Conclusion encouraging continued research on uncertainty and economic outcomes.





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