Modern Central Banking: Monetary Policy Implementation and Communication

Mary Daly

FRBSF Economic Letter, 2025, vol. 2025, issue 27, 6

Abstract: Central banks set policy to support the economy, provide liquidity, and promote financial stability. Modern central banking requires adaptation to current demands and a framework that fosters agility and readiness. Accordingly, central banks have used their balance sheets as policy tools over the past two decades. These tools demand clear communication to the public. The following is adapted from remarks presented by the president of the Federal Reserve Bank of San Francisco at the Institute of International and European Affairs in Dublin, Ireland, on November 13.

Keywords: central banking; monetary policy; Central bank balance sheet; monetary policy implementation (search for similar items in EconPapers)
Date: 2025
Note: The following is adapted from remarks presented by the president of the Federal Reserve Bank of San Francisco at the Institute of International and European Affairs in Dublin, Ireland, on November 13.
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.frbsf.org/wp-content/uploads/el2025-27.pdf PDF - view (application/pdf)
https://www.frbsf.org/research-and-insights/public ... nomic-letter-2025-27 FRBSF - view (text/html)

Related works:
Working Paper: Modern Central Banking: Monetary Policy Implementation and Communication (2025)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:102109

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().