Line of Inquiry: Michael Weber on how central banks should communicate
Forward guidance only works if the public gets the message and acts upon it—and research suggests many people simply don’t.
The latest
How fiscal policy drives inflation
Research finds that the discount rate has played an important role in US inflation.
Why central banks need to change their message
The US and European central banks thought they could manage their economies by bringing their secretive plans for interest-rate regulation into the light. But they didn’t account for an unreceptive public.
Don’t rely on the media to transmit Fed speak
Many Americans still exhibit a profound lack of awareness about inflation and the policies meant to guide it, according to research.
Has unconventional monetary policy run its course?
Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies of Singapore, on quantitative easing, prolonged periods of very low interest rates, and international spillovers.
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Retailers underestimate the power of a penny in pricing
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States are already paying for unfunded pensions
Large, unfunded state pension liabilities are a costly problem—and the cost is already reflected in current bond prices.