PRIMER: Fed chair Janet Yellen to speak at 1800 EST / 2300 GMT
Recently, several policymakers that are on the voting rotation for 2018 (Bostic, Mester and Williams, notably) have suggested that they are open to a re-thinking of the central bank’s operating framework.
Possible options that have been touted include a reassessment of the inflation target, and some exotic options, like price-level targeting. Analysts at Deutsche Bank point out that Former Fed Chair Bernanke has endorsed temporary price-level targeting if the Federal Funds Rate were to hit the lower bound in the future.
“While Chair Yellen’s appearance on Tuesday evening at NYU Stern Business School is being billed as a conversation with Mervyn King, the debate around inflation targeting, which has been the mantra of most central banks for the last several decades, could be a notable feature of the discussion,” Deutsche Bank writes.
21 Nov 2017 - 19:30- Research Sheet- Source: Newswires
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