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The SNB's June Monetary Policy Assessment
From gerlachmacro.substack.com
Yesterday, the Swiss National Bank published its summary of the discussions at its June monetary policy assessment. I remain impressed by these summaries. They strike a good balance between transparency and detail, conveying the Governing Board’s thinking without overwhelming the reader. The summary contains several interesting signals about how the SNB currently views the economy and the outlook for monetary policy. One concerns the outlook for oil prices. Although oil futures were trading at around USD 80 per barrel, the Governing Board noted that global inventories are historically low and warned that, if the ... (full story)
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The Federal Reserve, Economic Outlook and Monetary Policy It is an honor to join you today. It is great to be back in Nebraska, my home state, and I look forward to our discussion. Just two weeks ago we marked our 250th birthday as a nation. And while we, as a country, might feel young in comparison to some other nations, the truth is that throughout history there are not many institutions or governments that have endured for as long. What is it that has made the United States so successful? One important element is the federated structure of the United States. Distributed power and decision-making across federal, state, and local governments connects Americans more closely within their communities and their government. It allows for a diversity of views and experimentation in how society should be governed. America has always had a healthy skepticism towards centralization and the concentration of power that has served us well over time.
The Federal Reserve, Economic Outlook and Monetary Policy It is an honor to join you today. It is great to be back in Nebraska, my home state, and I look forward to our discussion. Just two weeks ago we marked our 250th birthday as a nation. And while we, as a country, might feel young in comparison to some other nations, the truth is that throughout history there are not many institutions or governments that have endured for as long. What is it that has made the United States so successful? One important element is the federated structure of the United States. Distributed power and decision-making across federal, state, and local governments connects Americans more closely within their communities and their government. It allows for a diversity of views and experimentation in how society should be governed. America has always had a healthy skepticism towards centralization and the concentration of power that has served us well over time.
Thank you for the kind introduction. I am delighted to be here at Stanford University today to discuss a topic that is central to the Federal Reserve's work: how policymakers analyze and respond to economic shocks in real time. The economy is constantly experiencing shocks that change economic conditions and that policymakers must consider. Today, I will ...
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- Jul 17, 12:01am | 18 hr ago Posted byFundamental Analysis1,614
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