Jagjit Chadha, (2019), «Objectives and boundaries of monetary policy: A Governor to renew the Bank of England’s monetary vows», Voxeu, 25 Οκτωβρίου
The Federal Reserve is reviewing its monetary policy strategy, tools, and communication processes, but there has been surprisingly little formal debate about these key aspects of monetary policymaking in the UK and the euro area. This column argues that the impending appointment of the next Governor of the Bank of England provides an opportunity for an open and deep debate about the fundamental objectives of the central bank and the limits of independence. It also warns that the genuine progress that has been made in the science of monetary policy may be threatened by a new era of economic populism.
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