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Waller: Treasury–Federal Reserve Cooperation and the Importance of Central Bank Independence
By way of introduction, I spent the first part of my career as an economics professor and researcher. One of my main fields of inquiry was monetary policy theory. I have long been a strong believer in the virtues of central bank independence, and today I will devote my remarks to that topic.1 As a result of the COVID-19 crisis, tremendous monetary and fiscal measures have been taken to provide economic relief to American households and businesses. The Federal Reserve took a host of actions, including lowering its policy rate to zero and purchasing securities to support market functioning and provide monetary ... (full story)
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Fed's Waller: The Fed must remain independent of inflation policy interest rate decisions.
— North Africa Trading (@Forexmkts) March 29, 2021
Fed's Waller: Democratic political priorities and Treasury debt-financing demands play little position in Fed monetary decision making.
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FED'S WALLER: THE CENTRAL BANK WILL NEVER USE MONETARY POLICY TO FINANCE THE STATE OR REDUCE DEBT SERVICING COSTS.
— Breaking Market News (@financialjuice) March 29, 2021