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The Fed faces headwinds to its monetary policy strategy with a cocktail of growing inflationary pressure and weaker than expected economic traction".
An article on Thursday about the Bank of Japan's monetary policy strategy gave outdated information on the status of the latest budget in the Japanese Parliament.
The Federal Reserve has not followed the suggestion of some that it pursue a monetary policy strategy aimed at pushing up longer-run inflation expectations.
The FOMC minutes are published (with a three-week lag) and Mr Greenspan steers traders through his speeches and testimonies (though he retains a penchant for circumlocutory phrases).Nonetheless, American monetary policy strategy is less transparent and more personalised than in many other modern economies.
"The Case for Forecast Targeting as a Monetary Policy Strategy," Journal of Economic Perspectives, vol. 21 (4), pp. 3-24.
Therefore, this paper presents a set of fundamental principles regarding the joint design of monetary policy strategy and communications.
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Unlike the ECB, it has never written down its monetary-policy strategy.
Meanwhile, it is conducting a review of its monetary-policy strategy.
Mr Duisenberg is more a "moderator" of the ECB's 18-strong governing council (the six executive board members, plus the 12 NCB governors), which meets to set rates every fortnight.Unable to rely on a strong individual, the ECB has set out a monetary-policy strategy with two "pillars", designed by Mr Issing.
"My expertise is in taking the inputs from other people and trying to figure out the monetary policy implications, the strategy and tactics of policy under these circumstances," Mr. Kohn said.
The UK has been a leading proponent of using super-easy monetary policy and devaluation as a strategy to offset fiscal austerity in the post-crash world.
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