From our perspective, "neutral" Fed policy going forward is a Funds Rate that hovers around 2% (perhaps in a range of 1.5% to 2.5%) alongside healthy liquidity provisioning. It's fair to ask, if 1.5% ...

As climate change intensifies, the frequency and severity of climate-induced disasters are expected to escalate. We develop a New Keynesian Dynamic Stochastic General Equilibrium model to analyze the ...

As the pioneer of inflation targeting in 1990, New Zealand's monetary policy framework has been a model for central banks globally. In recent years, tools like forward guidance—where a central bank ...

The pandemic and war have bred new challenges for global central banks in coming years The global inflation surge that abruptly ended decades of moderating price gains came at a unique confluence of ...