Below-target inflation increases the real value of debts owed by households and businesses and reduces the ability of central banks to respond to downturns.
My own experience is that the best outcomes are reached when opposing viewpoints are clearly and strongly presented before decisions are made.
Loss-absorbing capacity among banks is substantially higher as a result of both regulatory requirements and stress testing exercises.
The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.
In a world of global trade and integrated capital markets, it is natural for economic and financial shocks and policy actions to be transmitted across borders.
As with so many sectors of the economy, technology is transforming the retail banking sector.
