Columnist Veronique de Rugy: I have heard some people say that the Federal Reserve has a credibility problem.
The agency missed the biggest inflation spike since the 1980s, was slow to start rolling back pandemic policies and failed to spot the risks that some banks, such as Silicon Valley Bank, were facing.
A responsible political class would pay more attention to an organization's failures and significantly reform it. by signing up you agree to our terms of service "The broad conclusions we reach based upon that research," they found,"are that the full Fed period has been characterized by more, rather than fewer, symptoms of monetary and macroeconomic instability than the decades leading to the Fed's establishment."
As part of its evolution, the Fed's focus has expanded beyond traditional price stability to include national financial stability and full employment.
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