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Reflecting on recent times

· Andrew Bailey, Governor of the Bank of England (United Kingdom)

Summary written by Dark Majestic in its own words · topics: inflation and price stability, financial stability, trade, fragmentation and geopolitics

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· Andrew Bailey Wiki · Bank of England WikiReflecting on recent times

ContextSpeech at the Kansas City Fed's 2024 Economic Symposium in Jackson Hole; the Bank of England keeps inflation low and reviews the recent surge in prices.

Why it mattersBailey reflects on how persistent the post-Covid inflation surge proved to be.

Problems raised
  1. Covid and war caused an inflation surge.
  2. Policy trade-offs are hard.
  3. Inflation persistence is hard to judge.
Solutions proposed
  1. Improve the framework for assessing persistence.
  2. Learn how to handle different shocks.
  3. Coordinate monetary and financial stability.
Read full speech on bis.org ↗

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