Panel on "Central Bank Independence and the Mandate—Evolving Views"
· Jerome H Powell, Chair of the Federal Reserve (United States)
Summary written by Dark Majestic in its own words · topics: inflation and price stability
JH · Jerome H Powell Wiki · Federal Reserve WikiPanel on "Central Bank Independence and the Mandate—Evolving Views"ContextRemarks by Jerome Powell on a panel on central bank independence at the Sveriges Riksbank symposium in Stockholm.
Why it mattersPowell argues that independence must be earned by sticking to the mandate.
Problems raised- Central bank independence must be earned.
- Restoring price stability can be unpopular.
- Pressure to pursue social goals exists.
Solutions proposed- Achieve assigned goals with transparency.
- Stick to the statutory mandate.
- Accept unpopular measures to fight inflation.
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