Monetary policy is not a panacea.
Domestic inflation reflects domestic monetary policy.
Monetary policy itself cannot sensibly be directed at reducing imbalances.
Any debate among politicians about monetary policy is counterproductive.
We made a decision that monetary policy will be made by an independent European Central Bank.
During the last campaign I knew what was happening. You know, they mocked me for my foreign policy and they laughed at my monetary policy. No more. No more.
When there's downward pressure on growth, one choice is to adjust economic policy, increase deficits, relax monetary policy. That might have a short-term benefit, but may not be beneficial for the future.
In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central b...
Europe unified its monetary policy through the euro before it unified politically, therefore sustaining member countries' abilities to pursue the kind of independent fiscal policies that can strain a joint currency.
In principle, there are only three main components of spending that much matter to monetary policy: consumer spending, business investment and exports and trade.
It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their loans.
The major economic policy challenges facing the nation today - pick your favorites among the usual suspects of low public and household savings, concerns about educational quality and achievement, high and rising income inequality, the large imbalanc...
The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.
Many emerging countries are facing the same issue of overheating and inflation because they have been vigorously expanding fiscal and monetary policy to counter the 2008 shock.
Poland is one of the few countries that can afford to conduct a conventional monetary policy and that means we have to act against the buildup of imbalances in the economy.
I am shocked that Republicans can't explain why our technological and economic advantages are the result of sound monetary and economic policy.
The supply-side effect of a restrictive monetary policy is likely to be perverse, in that high interest rates enter into costs and thus exert inflationary pressure.
However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.
My bottom line is that monetary policy should react to rising prices for houses or other assets only insofar as they affect the central bank's goal variables - output, employment, and inflation.
So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.
Funnily enough, the Federal Reserve produced comics about monetary policy, and there is a good comic book guide to microeconomics and macroeconomics out there. But it is not really appropriate for younger readers; it is really aimed at economics stud...
