Add to Bookmarks Strategy reviews by many of the world’s central banks, notably the US Federal Reserve and the European Central Bank, have sharpened the debate about the role and limits of monetary policy. Besides maintaining price stability and, in some cases, supporting high levels of employment, should central bankers also actively help governments to tackle economic inequality and environmental threats? In this Big Picture, Stefan Gerlach, a former deputy governor of the Central Bank of Ireland, applauds the Fed’s recent decision to incorporate inequality considerations into its policy framework, as well
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Strategy reviews by many of the world’s central banks, notably the US Federal Reserve and the European Central Bank, have sharpened the debate about the role and limits of monetary policy. Besides maintaining price stability and, in some cases, supporting high levels of employment, should central bankers also actively help governments to tackle economic inequality and environmental threats?
In this Big Picture, Stefan Gerlach, a former deputy governor of the Central Bank of Ireland, applauds the Fed’s recent decision to incorporate inequality considerations into its policy framework, as well as ECB President Christine Lagarde’s efforts to push climate change up the ECB’s agenda.
Similarly, London Business School’s