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...It will be about “Fostering a Dynamic Global Economy”: In other words, central bankers will sit down to discuss long-term goals and avoid publicly communicating policy decisions, if recent news reports about the Federal Reserve and the European Central Bank prove accurate. But make no mistake, this year’s meeting is critically important. Two topics should dominate the conversation. The first is why despite falling unemployment, inflation remains elusive. The second is how to coordinate an exit from quantitative easing measures. Those two topics are not at odds. There are good reasons why central bankers should want to exit QE even though inflation remains far below their targets. Economists are split on why inflation has lagged gains on growth and unemployment. The Fed has reassured low inflation is temporary, but many believe structural factors will keep inflation lower for longer than traditional models suggest. We are in that camp. ...Live Mint on Aug. 23, 2017, 3:21 p.m.