Macy’s found a single employee hid up to $154 million worth of expenses

post: ECB'S CENTENO: INTEREST RATES MUST NOW NORMALIZE. post: <EUR=>:*CENTENO: PREFERS STEADILY BRINGING RATES TO 2% OR THEREABOUTS *ECB'S CENTENO: NEUTRAL LEVEL OF RATES IS AROUND 2%

My aim today is to explain how uncertainty is incorporated in the monetary policy process at the ECB. While monetary policy makers have always had to grapple with uncertainty, recent years have been marked by a pronounced increase in the quantum of uncertainty. This includes the uncertainties related to the pandemic and the unjustified Russian invasion of Ukraine (Chart 1). It also includes the uncertainties related to technological change, geo-economic trends and the green transition. In this speech, I will discuss how the ECB incorporates risk and uncertainty in its forecasting, in the preparation of monetary policy decisions and in communication. post: ECB'S LANE: IT IS ESSENTIAL THAT WE ARE AGILE IN RESPONDING TO RISKS THAT MIGHT CRYSTALLIZE. post: ECB'S LANE: GRADUALISM IS NOT A UNIVERSAL PRINCIPLE, AS CERTAIN CIRCUMSTANCES DEMAND A MORE FORCEFUL RESPONSE. post: ECB’S LANE: THE TRANSMISSION OF MONETARY POLICY IS STRONGER THAN IN THE PAST. post: ECB’S LANE: WE MUST REMAIN OPEN-MINDED ABOUT THE SPEED AND THE SCALE OF RATE MOVES.

post: *US SAYS ISRAEL-HEZBOLLAH CEASE-FIRE AGREEMENT NOT REACHED YET