Frustrating

The Jackson Hole 2016 gathering just started. The Conference Title is Designing Resilient Monetary Policy Frameworks for the Future.

However, the session directly linked to the Conference Theme – Evaluating Alternative Monetary Frameworks – is a letdown of massive proportions.

 

10:55 a.m. Evaluating Alternative Monetary Frameworks 
Author: Ulrich Bindseil 
Head of Directorate General Market Operations
European Central Bank
Discussants: Jean-Pierre Danthine
President
Paris School of Economics
Simon Potter 
Executive Vice President, Markets Group Federal Reserve Bank of New York

Ulrich Bindseil: 12 years ago he wrote…ending:

If the Fed would have been fully independent from the US Government at least directly after WW1, it would probably have had far less incentives to deny the validity of well established central bank technique, namely that short term interest rates are the operational target of monetary policy.”

Jean Pierre is a Finance person and Simon Potter is an econometrician (time series) and forecaster.

Hope I get pie in the face!

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