Policymaking in an age of shifts and breaks
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: climate, energy and nature, trade, fragmentation and geopolitics, labour markets and jobs
CL · Christine Lagarde Wiki · European Central Bank WikiPolicymaking in an age of shifts and breaksContextSpeech by Christine Lagarde at the Federal Reserve Bank of Kansas City's Jackson Hole symposium on structural shifts in the global economy.
Why it mattersLagarde describes structural shifts in labour, energy and trade that complicate policy.
Problems raised- Unprecedented shocks: pandemic, war, energy crisis.
- Structural shifts in labour, energy and trade are underway.
- Uncertainty about medium-term outlook is high.
Solutions proposed- Use a three-criteria framework for decisions.
- Keep rates high as long as needed.
- Stay agile in the face of structural change.
Read full speech on ecb.europa.eu ↗More from Christine Lagarde · European Central Bank · all speeches
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