So how should central banks coordinate when their economies are headed in opposite directions?
And since the start of the pandemic, international monetary policy has looked striking similar.
From the United States to Saudi Arabia to Malaysia, many major world economies slashed interest rates to historically low levels in March 2020 to stimulate their economies amid Covid lockdowns.
Central bankers do “talk a lot, and we see each other quite a bit,” said Andrew Bailey, Bank of England’s president, at a June event hosted by the European Central Bank.
“Adopting formal global monetary policy cooperation could plausibly erode central bank credibility and public support for central bank independence,” former Federal Reserve Vice Chair Richard Clarida said at a 2021 Asia Economic Policy Conference.
Persons:
Jackson, —, Nick Bennenbroek, ”, Andrew Bailey ,, Richard Clarida, “ There’s, ” Bennenbroek, Jerome Powell
Organizations:
Los Angeles CNN, Kansas City Federal Reserve, Andrew Bailey , Bank of England’s, European Central Bank, Federal, Asia Economic Policy
Locations:
lockstep, Jackson Hole , Wyoming, United States, Saudi Arabia, Malaysia, China, Wells, Asia