Three Challenges to Central Bank Orthodoxy

James Bullard

No 251, Speech from Federal Reserve Bank of St. Louis

Abstract: October 2, 2015. In a speech to the Shadow Open Market Committee in New York, St. Louis Fed President James Bullard discussed the orthodox view of current monetary policy, which emphasizes that the FOMC's objectives are close to being met while monetary policy settings remain far from normal, along with three challenges to that view, which relate to strict inflation targeting, low real interest rates and globalization. He concluded that the U.S. economy will likely experience better outcomes if the monetary policy orthodoxy is preserved as the guiding principle.

Pages: 15 pages
Date: 2015-10-02
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Journal Article: Three Challenges to Central Bank Orthodoxy (2016)
Journal Article: Three Challenges to Central Bank Orthodoxy (2015)
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