Monetary Policy and Price Stability
· Jerome H Powell, Chair of the Federal Reserve (United States)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability
JH · Jerome H Powell Wiki · Federal Reserve WikiMonetary Policy and Price StabilityContextSpeech by Jerome Powell at the Federal Reserve Bank of Kansas City's Jackson Hole symposium on monetary policy and price stability.
Why it mattersPowell's Jackson Hole speech warns that restoring price stability will cause some pain.
Problems raised- Inflation is far too high.
- One month of improvement is not enough.
- Restoring price stability will cause some pain.
Solutions proposed- Keep raising rates.
- Hold policy restrictive for some time.
- Learn from the 1970s and 1980s.
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