Policymaking in a new risk environment
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: inflation and price stability, climate, energy and nature, trade, fragmentation and geopolitics
CL · Christine Lagarde Wiki · European Central Bank WikiPolicymaking in a new risk environmentContextSpeech by Christine Lagarde at the 30th Dubrovnik Economic Conference, Croatia.
Why it mattersLagarde describes climate change and geopolitics as recurring supply shocks.
Problems raised- Geopolitical risks raise inflation and lower activity.
- Climate change acts as a supply shock.
- The world is in transition.
Solutions proposed- Adapt policymaking to new risks.
- Invest in renewables, grids and storage.
- Prepare for more frequent shocks.
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